The social commerce platform of India, Meesho is the reselling and online sho*ping site of India. It was founded in 2015 by the alumni of IIT Delhi, Sanjeev Barnwal and Vidit Aatrey.
The platform works by allowing the selling of unbranded products by resellers. Since inception, the platform has become a source of income for millions of housemakers.
It uses social media marketing to flourish their brand through working with others, running campaigns and attracting followers through posts. One of the most fantastic and mordernized methods of brand promotion of this world is through Memes.
The bengaluru headquartered online reselling and shopping company has recently been backed by the world’s social media giant, Facebook.
It was announced by the social Juggernaut that it has invested in the Indian social media commerce Meesho, which was for the 1st time, Facebook takes equity in an Indian startup.
However the financial terms of the deal were not specified by both the social media platforms but a familiar source of this matter told to Techcrunch that the capital of the deal was very significant.
Facebook’s investment is pegged at $25 million and could be a part of larger round for Meesho which is supposed to be of $100 million or more.
Meesho company claims that it has over 2 million resellers who mostly deals with clothes, electronic items and home appliances.
The CEO and co-founder of Meesho, Vidit Aatrey also said that most of the resellers on the platform are homemakers, who have purchased a smartphone in recent years and now want to resell it. Almost 80% of the user base of Meesho is Female.
It was also claimed by the company that more than 25,000/per income was earn by the sellers on Meesho. And the CEO of Meesho also claimed that they are planning to set foot in the international markets in future.
The VP and Managing Director of Facebook India, Ajit Mohan said that there are lots of Meesho’s customers present in smaller cities and towns of India which is popularly dubbed as India 2 whose most users are still offline. These things attracted Facebook towards Meesho.
He added that it is a remarkable achievement for a platform that is aimed at India 2 and has a huge women based user base, when there is a majority of men dominance in the online world of India.
Facebook’s officials said that Meesho’s engagement with Whatsapp will continue to be the same because it is a crucial play for Meesho but will also interact with other social media platforms as well.
Conclusion
The Meta platform’s owned social media networking, Facebook has announced that it has invested in the social commerce platform of India, Meesho, which was the first equity of the Meta platform for India. The financial terms of the deal were not specified on the social platforms but were supposed to be very significant. The Meesho platform makes an income platform for the homemakers of India, specially for women. Facebook encourages the efforts and endeavor made by the Indian shopping and reselling site which attracted the social networking platform.
FAQs
Ans. It is a shopping and reselling site of India.
Ans. Not disclosed by any of the companies.
Ans. Sanjeev Barnwal and Vidit Aatrey.
Ans. Meesho was founded in 2015.
Ans. The headquarters of Meesho is in Bengaluru.
