Meesho is to create an environment where everyone can start their business with zero investment. In 2020, the purpose of the startup to make about 20 million microentrepreneurs.
Meesho is a social commerce platform that perform retail distribution, allows smaller retailers to connect and sell their products effectively through social media channels. Meesho word means ‘my store’, and hook the company is to allow people to start their business from home without investment is the biggest problem that any small businesses face in starting a business.
There are more than two million Meesho resellers on the platform and more than 20,000 manufacturers from more than 500 cities that get through Meesho distribution throughout the country.
The validation for the company occurred when Facebook was invested in the company. Until now, the startup has raised $ 215.2 million in funding. Meesho working on a commission of about 10-15 percent and the seller can get by Meesho by adding a profit margin on each sale.
Speaking of growth, the company saw 50x growth in two consecutive years and the growth in the number of orders (HY18 to HY19) amounts to 1451 percent.
Meesho is the first mobile social commerce platform for small businesses that typically use WhatsApp and Facebook to stay in touch with customers.
It is touted to be one of India’s first reselling applications, provide a ‘way out’ for housewives. Bengaluru-based startup help resellers and emerging brands build a business using social media.
Facebook recently made an undisclosed investment in startup – social media giant’s first startup in India. In a span of four years, Meesho has emerged as the retail distribution platform interfere with empowering housewives, aspiring entrepreneurs, and students to launch, build and promote their businesses online through social media, including Facebook, WhatsApp, and Instagram.
India is a heterogeneous market with a number of parts of the region and become somber organized sector, spurring the need for technological and market interventions that can reliably bring business and people together. organized and heterogeneous market as lead to many problems – high fixed and working capital costs, large unsold inventory, a narrow selection of products and low consumer purchasing frequency.
While social applications have seen a lot of traction in Bharat, social commerce is still in the early days in the country: while 300 million people are using social applications such as Facebook regularly, less than 100 million of them buy online – trust and discovery become the biggest problem , Meesho, who has expressed his vision is to enable an environment where everyone can start their business with zero investment, the solution to this problem, by providing micro-entrepreneurs to supply trustworthy, social sharing tools, efficient logistics, and payment capabilities.
Starting with clothing, Meesho now sells a variety of products, including cosmetics, jewelry, accessories, and kitchen, and the products are made according to customer preferences throughout the region. According to RoC filings that are accessed by YourStory, Meesho reported revenues of Rs 84.88 crore for FY19. Revenues increased 14x from Rs 6.01 crore in FY18. In 2020, Meesho aims to create around 20 million microentrepreneurs.
Meesho, Bangalore, Karnataka, India. https://meesho.com