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Meesho: India’s Magnificent Online E-Commerce Business Net Worth, Revenue, and Sales 

Today, Meesho is one of the biggest online e-commerce businesses in India. After this, there are many small and good start-ups that moved forward and started their own e-commerce business. This is true now, one can easily launch their very own online business seated comfortably at their home, without investing a lot of money. Online shopping has significantly developed over the previous decade, and eCommerce companies now generate billions of dollars in monthly sales all across the globe. 

After the COVID-19 pandemic situation, people are mostly depending on online purchasing platforms more than ever since. In this, you will also get many opportunities to develop your own online empires. The online reselling industry is no different in that aspect. 

This is now very economical to establish an online reselling service. The expense of producing a product, handling inventory, and paying for all the tools, personnel, and instruments can easily be dodged this way since you merely act as a link between the supplier and the buyer.  

Meesho

Here is the story behind the popular Indian reselling platform Meesho, the Latest News about the company, and about Meesho’s Founders, Startup Story, Mission and Vision, Business and Revenue Model, Funding, Investors, Competitors, and more. 

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Startup Name Meesho 
Headquarters Bangalore, Karnataka, India 
Industry Retail, E-commerce 
Founders Sanjeev Barnwal, and Vidit Aatrey 
Founded 2015 
Valuation $5 bn (March 2022) 
Total Funding Raised $1.1 bn (October 2021) 
Revenue $841.5 mn (FY21) 
Current CEO Vidit Aatrey and Sanjeev Barnwal 
Meesho Website www.meesho.com 

Meesho: Company Details

Meesho is a popular online reseller platform that requires no introduction. The platform has carved for itself and has gained tremendous popularity among consumers and retailers alike by making online reselling and shopping hassle-free and affordable. Meesho provides secure and timely transactions, as well as low-cost returns and shipping. In this, you will get more than 2.6 million resellers throughout India who trust Meesho. 

This is a Bangalore-based startup that aspires to build an environment where anybody can establish a business with no financial investment. Along with having over 2 million resellers, the company also boasts of having more than 20,000 Meesho suppliers from more than 500 towns to its name. Meesho works on a commission of about 10-15%, and sellers may earn money with Meesho by introducing a gross margin to every transaction. 

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Meesho, India’s largest resale platform, was established in 2015. The Meesho app essentially connects manufacturers to resellers. Manufacturers list their commodities on the Meesho shopping app allows merchants to select from any of their products and sell them to customers using social networks such as WhatsApp, Facebook, and Instagram. Clothing, accessories, furniture, culinary utensils, and cosmetics producers are among the suppliers who list their products on Meesho. 

In this one can independently continue resellers that can allow to choose any product from these suppliers and sell it to customers using the social media sites mentioned. It’s as simple as posting a photo of the item on Instagram or writing a Facebook post to sell it. After the customer and the reseller have agreed on the purchase, the Meesho items are delivered to the buyer’s home. Buyers have the option of paying with a debit/credit card or cash on delivery for a secure and quick procedure of transaction. 

Meesho Logo Story 

Meesho the term indicatesMeri Shop or “Apni Dukaan” in Hindi. This basically justifies the service that provides. Meesho aspires to build an environment where anybody can establish a business with no financial investment. 

The tagline of Meesho says, “Not just a homemaker, a Meesho Entrepreneur.” 

mess2 Meesho: India’s Magnificent Online E-Commerce Business Net Worth, Revenue, and Sales 

Meesho:  Founders and Team 

The famous online retailer business was founded by Sanjeev Barnwal and Vidit Aatrey in 2015. 

Sanjeev Barnwal 

Sanjeev Barnwal is the Co-founder and Chief Technological Officer (CTO) of Meesho. Sanjeev Barnwal has previously worked at Sony Mobile Communications as an Android Camera Hardware Abstraction Layer Architecture Designer and Developer. He graduated from IIT Delhi with a bachelor’s degree in engineering and has also worked with Sony Corporation prior to that. 

Vidit Aatrey 

Vidit Aatrey is also one of the Co-founders and CEO of Meesho. By giving Prior to Meesho, the Meesho Co-founder worked with the mobile marketing platform InMobi, where he designed growth strategies for the company. Aatrey also saw the Operations part of the business when he was with ITC Limited.   Meesho works with a total employee of 750+ employees in its team. 

mess Meesho: India’s Magnificent Online E-Commerce Business Net Worth, Revenue, and Sales 

Meesho:  Startup Story 

In 2015, when Meesho was started, become popular as FASHNEAR. The concept behind FASHNEAR was just like Swiggy or Zomato. FASHNEAR is dealing with Fashion related goods and allowed customers to buy clothes and fashion accessories from the shops in their locality. They come with terms like the local shops selling apparel and accessories could register with the FASHNEAR app. Customers can be able to order from these local shops, and delivery persons were there to deliver the goods. 

“Sanjeev and I fulfilled every role during this period. We did the inventory of every shop, spending entire days taking photos of all the products and cataloging them on our app. I also worked as the delivery person in the beginning, because I wanted to hear my customer’s feedback firsthand.” Vidit said speaking about FASHNEAR’s initial days. 

Within a few days, the founders started to notice some flaws in the FASHNEAR business model. Some major drawbacks they noticed as the consumers had not much concerned about buying clothes from local shops. Besides, the shop owners also wanted to increase sales by selling their products online in different locations of the country, rather than selling their products locally. These problems inspired Vidit and Sanjeev to work on a better business model. By the end of 2015, Fashnear was renamed ‘Meesho’. 

The founder duo visited many shopkeepers and resellers to extract their problems. They noticed that many shopkeepers were already selling goods through WhatsApp, but their reach was limited because they deliver their goods locally only. They also found out that most of the shops registered on MEESHO were operated by women, and these women sold their goods out of their homes rather than in any physical shops.

Meesho’s current business model has been built considering these facts and issues, and currently, with Meesho, women can comfortably start a reselling business from home, without owing any inventory. Meesho also now empowers small shops and manufacturers to deliver their goods across the country, while Meesho takes care of the delivery of the products, facilitates COD options, and ensures that consumers can seamlessly return the products if they wish. This thing makes Mewesho a big suppliers  

Meesho – Mission and Vision 

The main target of the company is to help 100 million small companies prosper in the digital world. In a statement, Meesho tells, “Democratize internet commerce for everyone.” 

Meesho:  Business Model and Revenue Model 

After a close observation, we cannot say the business model that Meesho operates on is a D2C  business model. In the D2C business model,  you will get a  product that has been sold directly to the consumers by the manufacturer. However, Meesho involves resellers, who are the middleman between manufacturers and consumers.

Meesho is a platform that helps businesses to increase their sales, and in turn, charges certain fees and commissions from the businesses. Thus Meesho has a B2B business model now, which the company switched to in 2021 after it changed tracks from the reseller model that it focused on from the very beginning. 

Meesho: Commission 

The commissions Meesho has charged from the vendors have become a major source of their revenue. When a reseller sells a product on the Meesho platform, the seller of that product will be charged a certain percentage of commission. The commission-based business is quite similar to those of E-Commerce platforms like Amazon, Flipkart, and others. As per the company’s website, a 0% commission is charged from the suppliers on certain categories of products. No commission is charged from the resellers. 

Apart from the commissions, Meesho maintains the logistics services to the suppliers and charges a fee for the same. The Meesho team is now working on reducing the logistics charges to increase the profitability of the sellers.   

Meesho: Advertisements 

The online e-commerce service got a portion of Meesho’s revenue from Advertisements. Dat by day the number of sellers on the platform is increasing, sellers who want to highlight their products in front of the resellers and customers on the platform pay a certain amount for advertising their products. 

meesho Meesho: India’s Magnificent Online E-Commerce Business Net Worth, Revenue, and Sales 

Meesho: Revenue 

Meesho is one of the top social e-commerce giants that has seen a rise of 158% in its sales revenue doe the financial year ending on 31st March 2023. The revenue of Meesho jumped in FY22 from Rs. 792 crores in FY21 as losses widened 7.5x to Rs. 3,247 crores, regulatory filings that have been accessed via business intelligence platform Tofler showed. The total expenses of the company have increased fivefold to Rs. 6,607 crores from Rs. 1,337 crores as advertising, salaries and other expenses boost during the financial year. The expenses of the employee benefits grew 3.4 times to Rs. 509 crores in FY22 from Es. 149 crores in FY21. 

The logistics and fulfillment costs grew 4.4 times to Rs. 2,829 crores in FY22 just from Rs. 632 crores in FY21. The advertising expenses boost more than six times to Rs. 2,579 crores from Rs. 424 crores. The startup has been trying to decrease its burn. In 2022, the Softbank and Meta returned company changed its positioning and increasingly started to sell to the end consumer. Amazon has invested in the reseller app Glowroad. The last time Meesho boosted funds was in September 2021 that has ranked at $570 million at a $4.9 billion valuation. In 2023, the total revenue of Meesho is Rs. 3,232 crores. 

Read More:  Get A Complete List of High-Profit Companies Acquired by Reliance Group

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