Facebook makes first start-up investment in India, picks up stake in Meesho

Facebook picks up minority stake in Bengaluru-based Meesho for an undisclosed sum

Facebook on Thursday announced an investment in Meesho, a platform that enables Indian entrepreneurs to establish online businesses via social channels. The social media giant said it would pick up a minority stake in the social commerce platform, though it declined to give the financial details.

This is Facebook's first investment in an India-based start-up, though the California-headquartered company back in 2014 had acqui-hired a Bengaluru-based startup, Little Eye Labs.

“It’s a minority stake and the idea is that the financial stake opens the door for conversation between the two companies,” said Ajit Mohan, vice president and managing director, Facebook