The Success Story of Meesho
Headquartered in Bangalore, Meesho is an Indian social e-commerce company. It was founded by Vidit Aatrey and Sanjeev Barnwal who are IIT Delhi graduates in December 2015. It was one of the three Indian companies to be selected for Y Combinator in 2016.
Year Founded: 2015
Founders: Vidit Aatrey and Sanjeev Barnwal.
How it all started?
This company started the journey in December 2015 by Vidit Aatrey and Sanjeev Barnwal who are two IIT Delhi Graduates. It started as a social commerce platform which allows the users to resell their products using their social networks such as WhatsApp, Facebook, Instagram etc. To empower the Women was the actual motto of this startup i.e. the financial Independence of Indian Women.
On 2015, Vidit Aatrey, Founder & CEO of Meesho decided to quit his Job from InMobi and start his own startup. Then he started Meesho with his partner Sanjeev Barnwal, Founder & CTO of Meesho.
Meesho led the way and revolutionized the Industry when the social commerce was struggling to occupy the space in India.
It has over 50 lakh products in several categories like clothes, cosmetics, and household items. Some of the popular product categories are men’s top wear, women’s ethnic wear, western wear, accessories, home essentials etc.
Resellers can buy unbranded fashion products from suppliers and later they can sell it to the customers via social media platforms like WhatsApp and Instagram.
How an individual can earn money through Meesho?
To make money through Meesho, the person has to share their product that is listed on the Meesho app. They can share the products around their network on WhatsApp and Facebook groups or pages, and they can earn a commission per sale basis.
As a reseller, anyone want to percentage a product which is indexed at the Meesho app round your network on social media platforms and they may earn a fee regularly with a sale basis. It spends closely on helping last-mile transport for its social sellers and the organization is likewise incomes through them. It charges a standard delivery fee plus a 10% to 20% commission based on the product.
Meesho on September 30, 2021 said it has raised $570 million in its Series of F round led by Fidelity Management and B Capital which is more than doubling its valuation to $4.9 billion in five months. Meesho raises more than half a billion dollars in the fourth biggest funding round in the year of 2021. This company plans to use this capital to double down by research and development (R&D) teams and acquire to reach 100 million monthly transacting users by December 2022.
Meesho plans to expand its grocery vertical in future. They will also foray into online grocery in this year through Farmiso to solve for volume and expand its business reach into low-income households.
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