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Page 2 - Meesho

Meesho strengthens board with appointment of four independent directors

Meesho's new board members are expected to play a key role in advancing its strategic goals

Meesho strengthens board with appointment of four independent directors
Updated On : 02 Aug 2024 | 5:18 PM IST

Meesho onboards Hari Bhartia, three others as independent directors

Softbank-backed e-commerce firm Meesho on Friday said it has appointed Jubilant Bhartia Group founder Hari S Bhartia along with three other seasoned business leaders as independent directors. Along with Bhartia, Meesho has onboarded former JP Morgan Chairman Kalpana Morparia for South and South East Asia, PhonePe non-executive Chairman of the board Rohit Bhagat, and San Francisco-based AI company Ema's CEO Surojit Chatterjee. "As we embark on the next phase of growth, I am thrilled to announce the appointment of Surojit Chatterjee, Kalpana Morparia, Rohit Bhagat, and Hari S. Bhartia as independent directors to Meesho's board," Meesho, Founder and CEO Vidit Aatrey said in a statement. Bhartia is the Founder and Co-Chairman of Jubilant Bhartia Group. The Jubilant Bhartia Group has four flagship companies listed on Indian stock exchanges, with a combined market capitalisation of approximately USD 7.65 billion, it added. Bhartia is also the Co-Chairman and Managing Director of Jubilan

Meesho onboards Hari Bhartia, three others as independent directors
Updated On : 02 Aug 2024 | 11:32 AM IST

Meesho's Valmo to aid profitability growth, concern for third party players

In this short span, Valmo has expanded its reach to include 6,000 pin codes across over 20 cities. The platform has over 3,000 micro entrepreneurs

Meesho's Valmo to aid profitability growth, concern for third party players
Updated On : 30 May 2024 | 1:43 PM IST

Prathyusha Agarwal to head Flipkart's social commerce platform Shopsy

Shopsy is Flipkart's hyper-value e-commerce platform that competes with Meesho and Amazon Bazaar

Prathyusha Agarwal to head Flipkart's social commerce platform Shopsy
Updated On : 24 May 2024 | 9:05 PM IST

Meesho raises $275 million, eyes $600 million in ongoing round

Meesho plans to utilise its primary capital of approximately $300 million to cover taxes resulting from relocating the company's base back to India from Delaware

Meesho raises $275 million, eyes $600 million in ongoing round
Updated On : 13 May 2024 | 12:49 PM IST

SoftBank-backed Meesho to roll out ESOP buyback program worth Rs 200 cr

The SoftBank-backed e-commerce firm Meesho is enabling opportunities for wealth creation for 1,700 past as well as present employees

SoftBank-backed Meesho to roll out ESOP buyback program worth Rs 200 cr
Updated On : 13 Mar 2024 | 6:55 PM IST

Meesho initiates largest ESOP buyback programme totalling Rs 200 cr

Eligible current and ex-employees across the spectrum, from junior-level executives to senior leadership can voluntarily participate in this program, the company said in a statement

Meesho initiates largest ESOP buyback programme totalling Rs 200 cr
Updated On : 13 Mar 2024 | 4:49 PM IST

SoftBank-backed Meesho unveils Valmo to enable low-cost deliveries

Valmo would partner with fulfilment centres across the country. This way, it aims to create a national logistics solution by eliminating entry barriers for local players

SoftBank-backed Meesho unveils Valmo to enable low-cost deliveries
Updated On : 07 Feb 2024 | 7:56 PM IST

Meesho reduces logistics cost by 5% through software infra platform Valmo

E-commerce firm Meesho on Wednesday said it has reduced its logistics cost by 5 per cent by using its software logistics infrastructure platform Valmo. Valmo currently handles 20-22 per cent of orders of Meesho, which it plans to double in the next 12-18 months. The homegrown company announced that it has created a technology-enabled SaaS (Software as a service) platform Valmo to get micro-entrepreneurs in the logistics segment onboard to create a larger ecosystem and supply chain. The platform will incorporate local logistics suppliers to provide shipment services to the company, making the logistics seamless, and helping sellers on Meesho to save on operating costs. "Valmo aims to create a national logistics solution by eliminating entry barriers for local players and helping them grow their businesses," Meesho said in a statement. Meesho CXO, Fulfilment & Experience, Sourabh Pandey said the company has been able to reduce overhead costs by 5 per cent by incorporating Valmo for

Meesho reduces logistics cost by 5% through software infra platform Valmo
Updated On : 07 Feb 2024 | 5:49 PM IST

US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn

This is a decline of about 29 per cent from the SoftBank-backed company's peak valuation of $4.9 billion

US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn
Updated On : 31 Jan 2024 | 10:28 AM IST

Meesho delists 200,000 products; to reduce visibility of low-rated items

Softbank-backed Meesho on Tuesday said it has delisted nearly 2 lakh products from its e-commerce platform in the last quarter after quality check and plans to reduce visibility of low-rated items by 20 per cent within six months. The company said that quality evaluation was conducted through a comprehensive analysis of customer reviews, ratings and feedback. "Post evaluation, Meesho delisted nearly 2 lakh products in the last quarter alone. Meesho has further invested in the power of artificial intelligence to fortify quality checks while continuously working to improve key word databases and detection capabilities on the platform," the company said. The company further said that it determines quality through customer reviews, ratings and feedback as well as through any reported issues or returns related to the product's condition, functionality, or overall satisfaction. The e-commerce firm largely focuses on small sellers that mostly sell unbranded products on the platform. "Ove

Meesho delists 200,000 products; to reduce visibility of low-rated items
Updated On : 30 Jan 2024 | 4:31 PM IST

Flipkart leads e-comm mkt with 48% share, Meesho fastest growing platform

Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart's user base grew 21 per cent year-on-year (YoY), Meesho accelerated at 32 per cent while Amazon lagged at 13 per cent user growth primarily due to relative premium offerings as compared to peers. " As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce. Flipkart continues to grow faster than the industry... Mobile and apparel to be the largest categories for Flipkart with around 50 per cent and 30 per cent mix. Flipkart is estimated to hold 48 per cent and 60 per cent market share in online smartphone and online fashion market respectively," the report said. The report attributed growth in Meesho's market share primarily to its strategic focus Tier 2 and small

Flipkart leads e-comm mkt with 48% share, Meesho fastest growing platform
Updated On : 26 Jan 2024 | 10:55 AM IST

Fidelity reduces valuations of Meesho, Pine Labs as of October 2023

In September 2021, Fidelity led a $570 million round in Meesho along with B Capital Group, a venture capital firm co-founded by Facebook Co-Founder Eduardo Luiz Saverin

Fidelity reduces valuations of Meesho, Pine Labs as of October 2023
Updated On : 25 Jan 2024 | 12:25 AM IST

E-commerce firm Meesho recruits 150 during campus hiring, to take in more

Recruitments reflect 'robust road map for 2024', says Meesho, which is an e-commerce firm backed by SoftBank

E-commerce firm Meesho recruits 150 during campus hiring, to take in more
Updated On : 03 Jan 2024 | 10:47 PM IST

Meesho turns profitable with losses halved to Rs 1,675 cr in FY23

The company's revenue grew 77 per cent to Rs 5,735 core

Meesho turns profitable with losses halved to Rs 1,675 cr in FY23
Updated On : 29 Dec 2023 | 7:59 PM IST

Meesho posts 1st profitable quarter in FY24; loss dips to Rs 141 cr in H1

Softbank-backed Meesho on Friday said it became the first e-commerce unicorn to post consolidated profit after tax in the second quarter ended September 2023. The company did not disclose the amount of profit it earned in the July-September period. During the first-half period of the current financial year, the company reported narrowing of losses to Rs 141 crore and an increase in revenue by 37 per cent on a year-over-year basis to Rs 3,521 crore. "Meesho recorded its first-ever full quarter profitability in the second quarter of financial year 2024 and continues to remain so. The positive momentum in the business continued post this period's end and into the festive season as well where we witnessed continued growth across categories. This is an impressive feat as Meesho became the first horizontal e-commerce company to turn profitable in India," a Meesho spokesperson said. The company said it had posted its first-ever profit in July. "Consolidated revenue from operations were Rs

Meesho posts 1st profitable quarter in FY24; loss dips to Rs 141 cr in H1
Updated On : 29 Dec 2023 | 2:51 PM IST

Nearly 75,000 sellers on Meesho record double digit growth in sales

Around 75,000 sellers achieved double-digit growth while over 20,000 sellers witnessed a 10-times jump in their business on Softbank-backed e-commerce firm Meesho, the company said on Sunday. Meesho is the first unicorn e-commerce firm to have reported profit this year and it claims to have maintained the profitability since it first reported the performance in July. The company claimed that nearly 10,000 Meesho sellers crossed the Rs 1 crore sales mark and 130,000 registered sales of over Rs 1 lakh during 2023. Around "60 per cent of these sellers come from small towns like Avinashi, Bharuch, Fiazabad and Silchar", Meesho said. Meesho said that it added around 7 lakh new sellers this year taking the total number to 15 lakh this year. The company recorded transactions for 14 crore customers and claimed that nearly 80 per cent of the orders came from tier 2 and smaller markets. Meesho said that it recorded a unique pattern of customers placing maximum orders on Sunday. "Indian sho

Nearly 75,000 sellers on Meesho record double digit growth in sales
Updated On : 24 Dec 2023 | 10:25 PM IST

Softbank-backed Meesho adds nearly 25,000 non-GST sellers in 2 months

Softbank-backed Meesho on Friday said it has onboarded nearly 25,000 non-GST sellers since October 2023. In July, the GST Council provided exemption to small businesses having turnover below Rs 40 lakh in case of goods and Rs 20 lakh in case of services from GST registration for making intra-state supplies through e-commerce platform. The rule kicked in from October 1. "Welcoming nearly 25,000 non-GST sellers onto our platform reinforces our efforts to foster an inclusive digital ecosystem. "Committed to our goal of digitising 10 million sellers by 2027, Meesho stands firm in driving innovation and embracing the government's historic decision to eliminate mandatory GST registration for small businesses selling online," Meesho CXO Business, Megha Agarwal said in a statement. Earlier this year, Meesho implemented significant technological adaptations, paving the way for non-GST sellers to commence selling on the platform from October 1, 2023. "In the last two months, non-GST sellers

Softbank-backed Meesho adds nearly 25,000 non-GST sellers in 2 months
Updated On : 15 Dec 2023 | 8:40 PM IST

E-commerce firm Meesho says added 25,000 non-GST sellers in 2 months

Company says it is 'committed' to goal of goal of digitising 10 million sellers by 2027

E-commerce firm Meesho says added 25,000 non-GST sellers in 2 months
Updated On : 15 Dec 2023 | 4:14 PM IST

Meesho announces a 9-day break for employees for mental well-being

The firm said this is a testament to Meesho's unwavering commitment to its employees' holistic growth and happiness

Meesho announces a 9-day break for employees for mental well-being
Updated On : 31 Oct 2023 | 6:06 PM IST