Software:Meesho

From HandWiki

Meesho is an Indian-origin social commerce platform founded in December 2015 by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal.[1] It enables small businesses and individuals to start their own online shops through social websites like WhatsApp, Facebook, Instagram etc. Meesho is headquartered in Bangalore, India and was one of three Indian companies selected for Y Combinator in 2016.[2] It was also part of the first batch of the 'Google Launchpad Solve for India' programme.[3] In June 2019, Meesho became the first startup in India to receive investment from Facebook.[4]

History

In mid-2015, Atre and Barnwal created Fashnear, a highly regional fashion discovery and commerce app.[5] By the end of 2015, they took the form of Meesho short for "MeriShop" (Hindi for 'My Shop'),[6][7] an app that enabled shops in markets to take their inventory online and sell goods through social websites.[8] Shortly afterwards, Meesho revamped, becoming India's first online distribution channel for high-demand products, giving individual resellers the opportunity to sell these products on social networks.

The company launched 'Farmiso' in March 2020 as an online grocery business branch of the company[7] and by May 2022, it will be integrated to the main app[9][10] and will be rebranded as 'Meesho Superstore'.[11][12]

Funding rounds

  • In July 2016, Meesho was selected by Y Combinator, the Mountain View, California-based startup accelerator, for a three-month summer program where it secured $120,000.[13]
  • Later in August 2016, the startup raised an undisclosed seed round from Indian angel investors VH Capital, Kashyap Deorah, Rajul Garg, Investoped founders Arjun and Rohan Malhotra, Maninder Gulati, Abhishek Jain, and Jaspreet Bindra.[14]
  • In October 2017, Meesho raised $3.1 million Series A funding round from investors led by Indian venture capital firm SAIF Partners, bringing its total funding to $3.7 million.[15][16]
  • Meesho closed its Series B funding round of $11.5 million led by Sequoia India in June 2018.[17]
  • As of November 2018, Meesho closed its Series C of $50 million from China's Shunwei Capital, DST Partners, RPS Ventures, and earlier investors Sequoia India, SAIF Partners, Venture Highway and Y Combinator.[18][19]
  • In June 2019, Meesho received Facebook's first investment in an Indian startup.[4][20]
  • In August 2019, Meesho raised $125 million in a Series D round led by Naspers,[21] with participation from existing investors SAIF, Sequoia Capital, Shunwei Capital, RPS and Venture Highway. Arun Sarin, former CEO of Facebook and Vodafone Group also joined the round.[22][23][24]

Awards and recognitions

  • In August 2016, VC-focused data platform Mattermark ranked Meesho 8 among the 25 fastest growing Y Combinator incubated startups.[25]
  • In July 2017, Deccan Chronicle named Meesho among the top 5 apps for social commerce.[26]
  • In February 2018, Forbes India featured Vidit Aatrey and Sanjeev Barnwal, founders of Meesho, in its '30 Under 30 Young Achievers' list.[27][28] The startup was also one of the growing Indian businesses to be profiled by Forbes Asia in the same year.
  • In April 2018, Meesho was selected as a part of the first batch of Google Launchpad's 'Solve for India' program to create technology solutions for unique Indian challenges.[29]
  • In September 2018, LinkedIn named Meesho one among India's top 25 startups to work for talent bridge, employee development, job seekers' interest and level of professional engagement with their employees.[30][31]

References

  1. ↑ "How Two IIT Graduates Built A Rs 365 Crore Company To Help You Sell Anything on WhatsApp" (in en-IN). 2018-11-06. https://www.indiatimes.com/technology/apps/here-s-how-these-two-iit-graduates-built-a-platform-to-let-people-sell-products-over-whatsapp-356189.html. 
  2. ↑ "Y Combinator-backed social commerce enabler Meesho raises $3.44 mn" (in en-US). 2017-10-12. https://www.vccircle.com/exclusive-y-combinator-backed-social-commerce-enabler-meesho-raises-3-44-mn. 
  3. ↑ "Google India to mentor 10 startups as a part of its Solve for India programme". 2018-04-27. https://www.firstpost.com/tech/news-analysis/google-india-to-mentor-10-startups-as-a-part-of-its-solve-for-india-programme-4447605.html. 
  4. ↑ 4.0 4.1 "Facebook backs social commerce startup Meesho in first India investment" (in en-US). https://social.techcrunch.com/2019/06/13/facebook-meesho-first-indian-startup-investment/. 
  5. ↑ "Meesho: Bengaluru’s own start-up that democratised internet commerce" (in en). 2022-03-22. https://www.hindustantimes.com/cities/bengaluru-news/meesho-bengaluru-s-own-start-up-that-democratised-internet-commerce-101647938078543.html. 
  6. ↑ "How Meesho Started | Idea behind the Starting of Meesho" (in en-US). 2021-04-14. https://successko.com/how-meesho-started-idea-behind-the-starting-of-meesho/. 
  7. ↑ 7.0 7.1 "How Meesho pioneered social commerce and its future" (in en). https://www.fortuneindia.com/enterprise/social-commerce-the-meesho-way/105563. 
  8. ↑ "How Does Meesho Make money and their Story?" (in en-US). 2020-06-15. https://bizzbucket.co/how-does-meesho-make-money-and-their-story/. 
  9. ↑ "Meesho To Integrate Grocery Biz Into Core App | Bengaluru News - Times of India". 2022-04-06. https://timesofindia.indiatimes.com/city/bengaluru/meesho-to-integrate-grocery-biz-into-core-app/articleshow/90672992.cms. 
  10. ↑ "Meesho to integrate grocery business in core app" (in en). 2022-04-05. https://www.livemint.com/companies/start-ups/meesho-to-integrate-grocery-business-in-core-app-11649150773970.html. 
  11. ↑ Soni, Yatti. "Meesho rebrands Farmiso to ‘Meesho Superstore’" (in en). https://www.thehindubusinessline.com/companies/meesho-rebrands-farmiso-to-meesho-superstore/article65292276.ece. 
  12. ↑ "Meesho rebrands Farmiso to Superstore, to integrate with main app". The Economic Times. https://economictimes.indiatimes.com/tech/startups/meesho-rebrands-farmiso-to-superstore-to-integrate-with-main-app/articleshow/90657921.cms. 
  13. ↑ "YC-backed Meesho raises funds from a group of angel investors - Times of India" (in en). 2016-08-18. https://timesofindia.indiatimes.com/venture-capital/yc-backed-meesho-raises-funds-from-a-group-of-angel-investors/articleshow/53754862.cms. 
  14. ↑ Sahay, Priyanka (2016-08-18). "Meesho raises funds from Kashyap Deorah, Maninder Gulati, others" (in en). https://www.livemint.com/Companies/dcP4Lhtk0q9Ndiv2AtDCoI/Meesho-raises-funds-from-Kashyap-Deorah-Maninder-Gulati-ot.html. 
  15. ↑ Variyar, Mugdha. "Meesho mops up $3.1 m from SAIF-led investors". The Economic Times. https://economictimes.indiatimes.com/small-biz/money/meesho-mops-up-3-1-m-from-saif-led-investors/articleshow/61060243.cms?from=mdr. 
  16. ↑ "Social commerce startup Meesho gets $3.4M Series A to build a reseller network in India" (in en-US). https://social.techcrunch.com/2017/10/13/social-commerce-startup-meesho-gets-3-4m-series-a-to-build-a-reseller-network-in-india/. 
  17. ↑ Varshney, Rashi (2018-06-07). "Meesho raises Series B Funding of $11.5M from Sequoia India & others" (in en-US). https://www.medianama.com/2018/06/223-meesho-raises-series-b-funding-of-11-5m-from-sequoia-india-others/. 
  18. ↑ "Meesho Raises $50 Mn, Shunwei Capital, Kabir Misra Join As New Investors" (in en-US). 2018-11-05. https://inc42.com/buzz/meesho-raises-50-mn-shunwei-capital-kabir-misra-join-as-new-investors/. 
  19. ↑ "Meesho In Advance Talks To Raise $50 Mn At $250 Mn Valuation" (in en-US). 2018-10-09. https://inc42.com/buzz/meesho-in-advance-talks-to-raise-50-mn-at-250-mn-valuation/. 
  20. ↑ "Facebook News | Meesho IPO: Facebook-backed Meesho targets early 2023 for IPO". The Economic Times. https://economictimes.indiatimes.com/tech/startups/facebook-backed-meesho-targets-early-2023-for-ipo/articleshow/90007719.cms. 
  21. ↑ "Meesho Raises $125M for Indian Social Commerce led by Naspers". https://www.naspers.com/home/news/meesho-raises-$125m-for-indian-social-commerce-led. 
  22. ↑ "Indian e-commerce platform Meesho raises $125 mln in Naspers-led funding" (in en). Reuters. 2019-08-12. https://www.reuters.com/article/meesho-naspers-funding-idUSL8N25818K. 
  23. ↑ Rai, Saritha. "Facebook, Sequoia Bet on Indian Startup in $125 Million Funding Round" (in en). https://www.bloombergquint.com/technology/india-e-commerce-firm-raises-125-million-from-naspers-others. 
  24. ↑ Guinebault, Matthieu (2019-08-27). "Facebook investit dans le spécialiste indien du social commerce Meesho" (in fr). https://fr.fashionnetwork.com/news/-facebook-investit-dans-le-specialiste-indien-du-social-commerce-meesho,1129479.html. 
  25. ↑ "The Top 25 Fastest Growing Y Combinator Summer 2016 Demo Day Startups" (in en). 2016-08-23. https://mattermark.com/the-top-fastest-growing-25-y-combinator-summer-2016-demo-day-startups . 
  26. ↑ "Looking to sell on social media platform- Try out these 5 apps" (in en). 2017-07-25. https://www.deccanchronicle.com/technology/in-other-news/250717/looking-to-sell-on-social-media-platform-try-out-these-5-apps.html. 
  27. ↑ "Forbes India - Meet The 30 Young Achievers Of 2022 | Page 24" (in en). https://www.forbesindia.com/aperture/30-under-30-2022/meet-the-30-young-achievers-of-2022/73545/24. 
  28. ↑ "Forbes India 30 Under 30 in Pics: Here are the young and fearless achievers" (in en). https://www.moneycontrol.com/news/india/forbes-india-30-under-30-in-pics-here-are-the-young-and-fearless-achievers-2499953.html. 
  29. ↑ "Google ‘Launchpad Accelerator’ India chapter to nurture desi startups" (in en). 2018-07-10. https://indianexpress.com/article/technology/tech-news-technology/google-launchpad-accelerator-india-chapter-to-nurture-desi-startups-5254018/. 
  30. ↑ "LinkedIn Top Startups 2021: The 25 Indian companies on the rise" (in en). https://www.linkedin.com/pulse/linkedin-top-startups-2021-25-indian-companies-rise-. 
  31. ↑ "LinkedIn says these are the 25 most attractive startups to work for in India" (in en). https://www.moneycontrol.com/news/business/linkedin-says-these-are-the-25-most-attractive-startups-to-work-for-in-india-2961531.html. 



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