In April, Meesho turned a unicorn, raising $300 million led by Japan’s SoftBank Group Corp. In September, it raised $570 million in a fresh funding round, after which its valuation has more than doubled to $4.9 billion
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Business-to-business (B2B) e-commerce platform Meesho is set to launch the first edition of its four-day sale event, Maha Indian Shopping League, on 6 October.
E-commerce majors Amazon India, Flipkart and Myntra launched their festive season sales on 3 October.
Meesho has roped in more than 100,000 sellers ahead of the festive sales and expects 3x daily orders from tier-2 cities.
Meesho helps small businesses sell their products via social media channels such as Facebook and WhatsApp.
The company has undertaken many initiatives to boost participation of users from smaller cities and towns. Earlier this year, it had launched a 0% seller commission model which resulted in 10x growth in new registrations.
Ahead of the festive season, Meesho launched free ad credits and zero-return shipping charges on the first 30 orders.
To grow their business, sellers can create an online storefront on Meesho and share the link via social media platforms.
“We are excited to reimagine Bharat’s festive shopping experiences with the first edition of Maha Indian Shopping League. To truly democratize internet commerce, we have lowered entry barriers and improved ease of business for sellers, enabling more local businesses to join us and sell online," said Vidit Aatrey, founder and chief executive officer, Meesho.
“This ultimately improves access to a range of quality products for all tier-2+ city shoppers. Today, 5% Indian households shop with us every day, and we are expecting to make festive shopping simpler and more rewarding for many more," he added.
Over the past six months, Meesho’s monthly transacting users grew 2.8x while monthly orders rose by 2.5x. About 40% of Meesho’s new users were first-time e-commerce users.
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