Flush with funds, Zepto looks to bolster its leadership ahead of IPO
According to the 21-year-old founder, the biggest challenge for Zepto has been “bringing together an exceptional team.”
Flush with funds, quick-commerce unicorn Zepto is looking to strengthen its leadership ahead of its upcoming initial public offering (IPO) by hiring several senior-level employees across various categories, said Co-founder and Chief Executive Officer Aadit Palicha.
“Today, most of my day is spent conducting back-to-back candidate interviews, mostly for vice-presidents (V-Ps) that we are trying to hire in business verticals like home and personal care, or meat and seafood,” said Palicha, speaking at the seventh JIIF Foundation Day event in New Delhi on July 6.
According to the 21-year-old founder, Zepto’s biggest challenge has been “bringing together an exceptional team”.
“It is really hard to do that across every vertical. Not only identifying and getting the right people to join but also getting them to fully commit. For people who are already very accomplished, convincing them to go all in on something is quite challenging. Most of my time is spent on ensuring the team is exceptional and well-equipped,” he added.
In January this year, Nikhil Mittal — a former senior V-P at Zepto — was promoted to chief technology officer.
This comes close on the heels of Zepto’s recent $665 million Series F funding round, valuing the company at $3.6 billion, Business Standard reported earlier. The company is now preparing for its initial public offering in the next 12-15 months.
Ahead of its public listing, Zepto plans to ramp up hiring, aiming to add between 400 and 500 employees, focusing on engineering, product, category, growth, and marketing roles. The company currently boasts a team of 1,600 people.
Zepto presently operates roughly 350 dark stores across India’s top 10 cities. Flush with its recent funding, it plans to expand into an additional 10 cities, aiming to increase its store count to 700.
However, Palicha’s remarks coincide with a string of top-level exits from the company.
In June, Zepto saw the departure of chief marketing officer Amritansu Nanda, as well as Viral Jhaveri, chief business officer and chief growth officer, and Manik Oberoi, V-P of growth and retention.
Ashish Shah, Zepto’s former senior V-P of finance who joined in June 2021, reportedly resigned in December 2023, subsequently assuming the role of chief financial officer at DealShare.
> Viral Jhaveri, chief business officer and chief growth officer
> Manik Oberoi, V-P of growth and retention
December 2023
> Ashish Shah, senior V-P of finance
First Published: Jul 07 2024 | 4:40 PM IST