View source for Meesho

{{Short description|Online commerce platform based in India}}
{{Use Indian English|date=May 2023}}
{{Use dmy dates|date=May 2023}}
{{Infobox company
| name = Meesho
| logo = Meesho_logo.png
| logo_size = 180px
| type =
| industry = [[E-commerce]]
| location = [[Bangalore]], [[Karnataka]], India
| services = [[Online shopping]]
| revenue = {{up}} {{INRConvert|5735|c}} (FY23)<ref name="fy23">{{cite news |last1=Manchanada |first1=Kunal |title=Meesho reports Rs 5,735 Cr revenue in FY23; losses shrink 48% |url=https://entrackr.com/2023/12/meesho-reports-rs-5735-cr-revenue-in-fy23-losses-shrink-48/ |access-date=27 January 2024 |work=Entrackr |date=29 December 2023}}</ref>
| net_income = {{positive decrease}} {{INRConvert|-1675|c}} (FY23)<ref name="fy23"/>
| founded = {{start date and age|2015|12}}
| area_served = India
| key_people = {{ubl|Vidit Aatrey ([[Chief executive officer|CEO]])|Sanjeev Barnwal ([[Chief technology officer|CTO]])<ref name="Singh 2021 u399">{{cite web | last=Singh | first=Rajiv | title=How Meesho's Big, Bold Bets Took It Close To $5-billion Valuation At Lightning Speed | website=Forbes India | date=November 11, 2021 | url=https://www.forbesindia.com/article/take-one-big-story-of-the-day/how-meeshos-big-bold-bets-took-it-close-to-5billion-valuation-at-lightning-speed/71477/1 | access-date=September 20, 2023}}</ref>}}
| owner = Fashnear Technologies Private Limited
| founders = {{ubl|Vidit Aatrey|Sanjeev Barnwal}}
| website = {{URL|https://www.meesho.com/}}
}}
'''Fashnear Technologies Private Limited''' [[Trade name|doing business as]] '''Meesho''' (short for ''Meri Shop'', trans. My Shop)<ref>{{Cite web |date=2023-04-12 |title=Meet Vidit Aatrey And Sanjeev Barnwal, The Meesho Founders Whose Earlier Venture Failed |url=https://www.news18.com/business/meet-vidit-aatrey-and-sanjeev-barnwal-the-meesho-founders-whose-earlier-venture-failed-7525813.html |access-date=2024-06-01 |website=News18 |language=en}}</ref> is an Indian [[e-commerce]] company headquartered in Bangalore.'''<ref name=":0">{{Cite web |title=Vidit Aatrey & Sanjeev Barnwal: Redefining Distribution With Meesho |url=https://www.forbesindia.com/article/30-under-30-2018/vidit-aatrey-sanjeev-barnwal-redefining-distribution-with-meesho/49381/1 |access-date=2023-05-17 |website=Forbes India |language=en}}</ref>'''<ref name=":1">{{Cite web |title=Tech in Asia – Connecting Asia's startup ecosystem |url=https://www.techinasia.com/y-combinator-startup-meesho-helps-you-sell-on-facebook-whatsapp |access-date=2023-05-17 |website=techinasia.com |language=en-US}}</ref> It is an online marketplace that facilitates trade between suppliers, resellers and customers, with heavy reliance of external social media platforms such as [[Facebook]] and [[Instagram]].<ref name=":1" /><ref name="Purnell 2022 m212">{{cite web | last=Purnell | first=Newley | title=Meta-Backed Meesho Is Beating Amazon, Walmart in Race for Indian Shoppers | website=WSJ | date=October 22, 2022 | url=https://www.wsj.com/articles/meta-backed-meesho-is-beating-amazon-walmart-in-race-for-indian-shoppers-11666431001 | access-date=September 20, 2023}}</ref>
== History ==
Fashnear Technologies Private Limited was established by [[IIT Delhi]] graduates Vidit Aatrey and Sanjeev Barnwal in December, 2015<ref name=":2">{{Cite web |title=Meesho Creates Stores for Indian SMBs Selling Through WhatsApp |url=https://www.ycombinator.com/blog/meesho |access-date=2023-05-17 |website=Y Combinator |language=en}}</ref><ref>{{Cite web |title=Vidit Aatrey & Sanjeev Barnwal: Redefining Distribution With Meesho |url=https://www.forbesindia.com/article/30-under-30-2018/vidit-aatrey-sanjeev-barnwal-redefining-distribution-with-meesho/49381/1 |access-date=2024-06-01 |website=Forbes India |language=en}}</ref> as an on-demand delivery service like [[Swiggy]] but for fashion products from local shops. The startup failed. In 2016, the founders came up with the idea of re-establishing the platform as Meesho, one that would enable country-wide shipping for resellers with the use of social media sites as tools for marketing.<ref>{{cite web |last1=Russell |first1=Jon |title=Meesho wants to make selling through WhatsApp more efficient and less painful |url=https://techcrunch.com/2016/08/17/meesho-wants-to-make-selling-through-whatsapp-more-efficient-and-less-painful/ |website=TechCrunch |access-date=26 August 2023 |location=Palo Alto, California |date=18 August 2016}}</ref><ref name=":0" />
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.<ref>{{Cite web |date=2021-11-16 |title=Meesho logs 17.8 mn users in Sept; aims to reach 100 mn by Dec 2022 |url=https://www.businesstoday.in/entrepreneurship/news/story/meesho-logs-178-mn-users-in-sept-aims-to-reach-100-mn-by-dec-2022-312391-2021-11-16 |access-date=2023-05-17 |website=Business Today |language=en}}</ref> It saw big growth during 2021 and 2022.<ref>{{Cite news |last=Purnell |first=Newley |date=2022-10-22 |title=Meta-Backed Meesho Is Beating Amazon, Walmart in Race for Indian Shoppers |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/meta-backed-meesho-is-beating-amazon-walmart-in-race-for-indian-shoppers-11666431001 |access-date=2023-05-30 |issn=0099-9660}}</ref> Meesho's monthly transacting user count rose 26 times during 2020–2022. Globally, Meesho [[mobile app]] was among the top most downloaded apps in 2021.<ref>{{Cite web |title=How Meesho's Big, Bold Bets Took It Close To $5-billion Valuation At Lightning Speed |url=https://www.forbesindia.com/article/take-one-big-story-of-the-day/how-meeshos-big-bold-bets-took-it-close-to-5billion-valuation-at-lightning-speed/71477/1 |access-date=2023-05-17 |website=Forbes India |language=en}}</ref> In 2022, Meesho had about 120 million monthly users and about 910 million orders were made through the platform. It soon became one of India's fastest growing e-commerce platforms.<ref name=":3" /> Its [[gross merchandise value]] (GMV) increased ninefold in two years<ref name=":3">{{Cite news |date=2023-04-24 |title=Meesho’s growing scale, differentiated business model make profitability a reality in 2023: Jefferies |language=en-IN |work=The Hindu |url=https://www.thehindu.com/business/meeshos-growing-scale-differentiated-business-model-make-profitability-a-reality-in-2023-jefferies/article66774340.ece |access-date=2023-05-17 |issn=0971-751X}}</ref> and was at about $5 billion in 2022 (for comparison, [[Flipkart]]'s GMV stood at $23 billion).<ref>{{Cite web |date=2023-04-22 |title=Meesho’s average monthly user count 55 per cent that of Flipkart, Amazon India: Report |url=https://www.thehindubusinessline.com/companies/meeshos-average-monthly-user-count-55-per-cent-that-of-flipkart-amazon-india-report/article66767112.ece |access-date=2023-05-17 |website=www.thehindubusinessline.com |language=en}}</ref><ref>{{Cite web |date=2022-12-22 |title=With 910 million orders in 2022, Meesho grew 135% y-o-y |url=https://www.financialexpress.com/industry/with-910-million-orders-in-2022-meesho-grew-135-y-o-y/2922533/ |access-date=2023-05-17 |website=Financialexpress |language=en}}</ref>
In 2023, Meesho was named one of the most influential companies of the year by [[Time (magazine)]].<ref>{{cite web |title=TIME100 MOST INFLUENTIAL COMPANIES 2023 |url=https://time.com/collection/time100-companies-2023/6285212/meesho/ |website=[[Time (magazine)|Time]] |publisher=Tara Law |access-date=21 June 2023}}</ref><ref>{{cite web |title=Meesho on TIME's 100 most influential companies |url=https://www.moneycontrol.com/news/trends/meesho-on-times-100-most-influential-companies-10839501.html |website=moneycontrol.com/ |publisher=MONEYCONTROL NEWS |access-date=22 June 2023}}</ref> In the same year, Meesho also became the fastest shopping app to cross over 500 million downloads.<ref>{{cite web |title=Meesho becomes world's fastest shopping app to cross 500 mn downloads |url=https://www.business-standard.com/amp/companies/news/meesho-becomes-world-s-fastest-shopping-app-to-cross-500-mn-downloads-123060100771_1.html |website=business-standard.com/ |publisher=Peerzada Abrar |access-date=1 June 2023}}</ref><ref>{{cite web |title='Meesho becomes world’s fastest shopping app to cross 500 million |url=https://timesofindia.indiatimes.com/business/india-business/meesho-becomes-worlds-fastest-shopping-app-to-cross-500-million-downloads/articleshow/100704012.cms |website=timesofindia.indiatimes.com/ |publisher=Asmita Dey |access-date=2 June 2023}}</ref>
In 2024, Meesho introduced Valmo, a logistics marketplace, to provide shipment services to sellers by aggregating multiple logistics providers. Meesho employs over 3,000 small businesses and 10-12 large firms for warehousing and sorting operations within its logistics framework.<ref name="The Economic Times 2024 p785">{{cite web | title=Meesho launches logistics vertical Valmo | website=The Economic Times | date=2024-02-07 | url=https://economictimes.indiatimes.com/tech/startups/meesho-launches-logistics-vertical-valmo-to-charge-under-a-rupee-per-order-for-services/articleshow/107500845.cms?from=mdr | access-date=2024-04-04}}</ref>
According to a report by The Economic Times, Meesho's Gross Merchandise Value (GMV) exceeds $5 billion, with a focus on fashion, beauty, and home categories. The platform boasts 120 million monthly active users, with 80% of its sellers identified as retail business owners and 95% of its offerings being unbranded.<ref name="Goel 2024 x861">{{cite web | last=Goel | first=Pallavi | title=ET Retail | website=ETRetail.com | date=2024-01-25 | url=https://retail.economictimes.indiatimes.com/amp/news/e-commerce/e-tailing/meesho-fastest-growing-e-comm-player-gmv-tops-5-bn-report/107153844 | access-date=2024-04-04}}</ref>
== Funding ==
Meesho is funded by multiple investment companies including [[Fidelity Investments|Fidelity]], [[SoftBank Group|Softbank]],<ref>{{Cite news |date=2023-04-24 |title=Meesho’s growing scale, differentiated business model make profitability a reality in 2023: Jefferies |language=en-IN |work=The Hindu |url=https://www.thehindu.com/business/meeshos-growing-scale-differentiated-business-model-make-profitability-a-reality-in-2023-jefferies/article66774340.ece |access-date=2023-05-17 |issn=0971-751X}}</ref> [[Prosus]], [[B Capital]], Sequoia India<ref name="sequoiaB">{{cite web |last1=Shu |first1=Catherine |title="Social selling" startup Meesho lands $11.5M Series B led by Sequoia India |url=https://techcrunch.com/2018/06/06/social-selling-startup-meesho-lands-11-5m-series-b-led-by-sequoia-india/ |website=TechCrunch |access-date=26 August 2023 |date=7 June 2018}}</ref> and [[Meta Platforms|Meta]].<ref name=":5" /> Meesho has held many funding rounds.
* Series A in October 2017: US$3.4 million<ref>{{cite web |last1=Shu |first1=Catherine |title=Social commerce startup Meesho gets $3.4M Series A to build a reseller network in India |url=https://techcrunch.com/2017/10/13/social-commerce-startup-meesho-gets-3-4m-series-a-to-build-a-reseller-network-in-india/ |website=TechCrunch |access-date=26 August 2023 |date=13 October 2017}}</ref>
* Series B in June 2018: US$11.5 million<ref name="sequoiaB" />
* Series C in November 2018: US$50 million<ref>{{cite web |last1=Russell |first1=Jon |title=India's Meesho, which enables social commerce via WhatsApp, raises $50M |url=https://techcrunch.com/2018/11/05/meesho-raises-50-millon/ |website=TechCrunch |access-date=26 August 2023 |date=6 November 2018}}</ref>
* Series D in June 2019: US$25 million funded by Meta Platforms. Meesho became the first startup in India to receive investment funding from Facebook.<ref name=":5">{{Cite web |last=Singh |first=Manish |date=2019-06-13 |title=Facebook backs social commerce startup Meesho in first India investment |url=https://techcrunch.com/2019/06/13/facebook-meesho-first-indian-startup-investment/ |access-date=2023-05-17 |website=TechCrunch |language=en-US}}</ref>
* Series F in September, 2021: Meesho, announced funding of US$570 million led by Fidelity Management & Research Company and B Capital Group.{{Citation needed|date=August 2023}}
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.<ref>{{Cite web |title=Meesho raises more than half a billion dollars in the fourth biggest funding round this year |url=https://www.businessinsider.in/business/startups/news/meesho-raises-more-than-half-a-billion-dollars-in-the-fourth-biggest-funding-round-this-year/amp_articleshow/86636161.cms |access-date=2023-05-17 |website=www.businessinsider.in}}</ref><ref>{{Cite web |last=  |first= |date=2022-03-25 |title=Social e-com firm Meesho eyes $500-mn war chest; funds to be used for M&As |url=https://www.business-standard.com/article/companies/social-e-com-firm-meesho-eyes-500-mn-war-chest-funds-to-be-used-for-m-as-122032401554_1.html |access-date=2023-05-17 |website=www.business-standard.com |language=en-US}}</ref><ref>{{Cite web |last= |first= |title=Meesho eyes EBITDA breakeven this year |url=https://in.fashionnetwork.com/news/Meesho-eyes-ebitda-breakeven-this-year,1510136.html |access-date=2023-05-17 |website=FashionNetwork.com |language=en-IN}}</ref>
== See also ==
* [[List of Y Combinator startups|List of Y combinator startups]]
* [[Zomato]]
* [[Nykaa]]
== References ==
{{reflist}}
==External links==
*{{URL|www.meesho.com|Official Website}}
[[Category:Application software]]
[[Category:E-commerce in India]]
[[Category:2015 establishments in India]]
[[Category:Companies based in Bengaluru]]