Meesho is an e-commerce platform owned by the Indian company Fashnear Technologies Private Limited It is an online marketplace. It’s a Bengaluru-based company.
Their goal is to establish an atmosphere where anyone can launch a business with no money. The startup has produced over 20 million microbusiness owners. Meesho’s platform has over two million resellers, and over 20,000 manufacturers from 500 cities that facilitate trade between suppliers, resellers, and customers, they have a great brand market on social media platforms such as Facebook and Instagram.
Meesho recorded 14.5 crore app downloads in 2023 in India. Meesho was the #1 Shopping app in India during this time period.
When Vidit Aatrey and Sanjeev Barnwal founded Fashnear Technologies, they tried their hand at on-demand fashion delivery but ran into problems. In 2016, they made some strategic changes and relaunched themselves as Meesho. They also turned their platform into a reseller model, enabling nationwide shipment through social media marketing.
Meesho’s growth trajectory has been impressive. It claimed in March 2020, that number had increased to 563,000 users and 3.1 million orders, as per reports. In 2021 and 2022, the platform experienced significant growth, as seen by a startling 26-fold rise in the number of monthly transactional users. Their Value increased ninefold in just two years, to reach over $5 billion in 2022. Meesho had nearly 14 crore customer transactions in 2023.
Meesho also broke the 500 million download mark for the fastest shopping app in the same year.
Reports also indicated that Meesho’s loss for FY23 dropped from Rs 3,251 crore in FY22 to Rs 1,675 crore, a 48.42 percent decrease. The company said that operational leverage and a heightened emphasis on cost-effectiveness in several areas, such as client acquisition, server, and infrastructure costs, had contributed to its sustained topline growth.
Meesho recorded revenue growth of 77 percent for FY’23, followed by 37 percent in H1 FY’24, as per company blog.
With all this happening Meesho has sprawled into a new office space. With great specs and aesthetics. They posted on their LinkedIn saying they got into a new office (home) ” With subtle colors and spacious interiors, our idea of an office transcends beyond desks and chairs.” Added they will continue to inspire and drive a collective mission of democratizing e-commerce for everyone in India.
