Draft:Meesho (Draft)
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|  |
 | |
| Meesho | |
| Company type | Private |
| Industry | E-commerce, Social commerce |
| Founded | 2015 |
| Headquarters | Bangalore, India |
Area served | Pan India |
Key people |
|
| Parent | Fashnear Technologies Private Limited |
| Website | https://www.meesho.com/ |
Meesho is an India-based social commerce platform headquartered in Bangalore.[1][2]
Concept[edit]
Meesho operates a three-end marketplace that connects suppliers (manufacturers or distributors) and resellers with customers on social media platforms such as WhatsApp, Facebook and Instagram. The resellers buy listed products from the suppliers and make commission on each transaction when they sell to customers.[2]
History[edit]
Start-up phase[edit]
Fashnear under Fashnear Technologies Private Limited was establised by IIT Delhi graduates Vidit Atre and Sanjeev Baranwal in July, 2015[3] as an on-demand delivery service like Swiggy but for fashion products from local shops. The startup failed. The founders came up with the idea of enabling small resellers to sell their products by creating a convenient online platform, Meesho, with the help of social media sites as tools for marketing.[4][1]
Growth[edit]
Meesho had 209,000 users and 1.2 million orders per month in February 2019 and 563,000 users and 3.1 million orders per month in March 2020.[5]
Meesho saw a big growth during 2021 and 2022. Meesho’s monthly transacting user count rose 26 times during 2020-2022. Globally, Meesho was among the top most downloaded apps on digital stores in 2021.[6] In 2022, Meesho had about 120 million monthly users and about 910 million orders were made through the platform. In terms of The gross merchandise value (GMV) increased 9 times in two years[7] and was at about $5 billion in 2022 as against Flipkart’s $23 billion.[8][9] Meesho became one of India’s fastest growing e-commerce platform.[7]
Funding and Revenue[edit]
Meesho is funded by several investment companies– Fidelity, Softbank[10], Prosus, B Capital Group[11], Sequoia Capital, Elevation Capital and Meta. Meesho held many funding rounds. In 2019, it raised 25 million USD funded by Meta Platforms and became the first startup in India to receive investment from Facebook.[12][12] In September, 2021, Meesho, announced round F of funding of US$570 Million led by Fidelity Management & Research Company and B Capital Group.[11] In 2021, the company announced that it had raised approximately US$1.1 Billion in funding thus far and currently has a cash buffer of US$400 million.[13][14][15]
See also[edit]
References[edit]
- ^ a b "Vidit Aatrey & Sanjeev Barnwal: Redefining Distribution With Meesho". Forbes India. Retrieved 17 May 2023.
- ^ a b "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 17 May 2023.
- ^ "Meesho Creates Stores for Indian SMBs Selling Through WhatsApp". Y Combinator. Retrieved 17 May 2023.
- ^ "Meesho - The Startup Story of India's Largest Reselling App". StartupTalky. 25 July 2022. Retrieved 17 May 2023.
- ^ "Meesho logs 17.8 mn users in Sept; aims to reach 100 mn by Dec 2022". Business Today. 16 November 2021. Retrieved 17 May 2023.
- ^ "How Meesho's Big, Bold Bets Took It Close To $5-billion Valuation At Lightning Speed". Forbes India. Retrieved 17 May 2023.
- ^ a b "Meesho's growing scale, differentiated business model make profitability a reality in 2023: Jefferies". The Hindu. 24 April 2023. ISSN 0971-751X. Retrieved 17 May 2023.
- ^ "Meesho's average monthly user count 55 per cent that of Flipkart, Amazon India: Report". www.thehindubusinessline.com. 22 April 2023. Retrieved 17 May 2023.
- ^ "With 910 million orders in 2022, Meesho grew 135% y-o-y". Financialexpress. 22 December 2022. Retrieved 17 May 2023.
- ^ "Meesho's growing scale, differentiated business model make profitability a reality in 2023: Jefferies". The Hindu. 24 April 2023. ISSN 0971-751X. Retrieved 17 May 2023.
- ^ a b "Meesho raises US$570 million in Series F funding from Fidelity Management and Research Company and B Capital Group". Meesho raises US$570 million in Series F funding from Fidelity Management and Research Company and B Capital Group. Retrieved 17 May 2023.
- ^ a b Singh, Manish (13 June 2019). "Facebook backs social commerce startup Meesho in first India investment". TechCrunch. Retrieved 17 May 2023.
- ^ "Meesho raises more than half a billion dollars in the fourth biggest funding round this year". www.businessinsider.in. Retrieved 17 May 2023.
- ^ Standard, Business (25 March 2022). "Social e-com firm Meesho eyes $500-mn war chest; funds to be used for M&As". www.business-standard.com. Retrieved 17 May 2023.
{{cite web}}:|first=has generic name (help) - ^ IN, FashionNetwork com. "Meesho eyes EBITDA breakeven this year". FashionNetwork.com. Retrieved 17 May 2023.