Zepto, a major player in the quick commerce sector, has promoted Devendra Meel from Senior Vice President of Strategy to Chief Business Officer. Meel, who joined Zepto in July last year, previously led strategy verticals at Zomato and Reliance Jio. An IIM Bangalore graduate, Meel brings a wealth of experience to his new role.
In his new position, Meel will oversee category management, develop brand partnerships, and manage the assortment, pricing, availability, and growth of core categories on the Zepto platform. He succeeds Viral Jhaveri, who departed from Zepto in March after serving since July 2021 as part of the founding team in various roles, including Chief Business Officer and Chief Growth Officer.
Divesh Sawhney has taken over as Chief Growth Officer following Jhaveri’s exit. Additionally, Ashish Shah, formerly Senior Vice President of Finance at Zepto, has joined DealShare as Chief Financial Officer.
Zepto CEO Aadit Palicha praised Meel’s contributions, highlighting his role in scaling the company’s advertising business to substantial revenue and developing Zepto Pass, which now has over 5 million subscribers. “Devendra has had an incredible run at Zepto,” Palicha said.
In a recent statement, Meel expressed his enthusiasm for his new role, saying, “Having a front-row seat in a company poised to redefine Internet India is the opportunity of a lifetime. I am deeply committed to this mission and will bring all my energy and dedication to it.”
Zepto recently closed a $665-million funding round, reaching a valuation of $3.6 billion. The company plans to double its number of dark stores to 700 by the end of the 2024-25 fiscal year, expanding into ten new cities, including Ahmedabad, Chandigarh, and Jaipur. Zepto competes with Zomato-owned Blinkit, Swiggy Instamart, and Tata Digital-owned BB Now.
In a recent event in Delhi, Palicha described Zepto as the “hyperlocal Walmart of India” and projected the platform’s potential to increase its annual revenue to Rs 2.5 lakh crore within five years.