Social commerce startup Meesho gets $125 mn funding from Facebook, Nasper

Meesho, an Indian e-commerce site, said it raised $125 million from investors including Naspers Ltd, Facebook Inc and the former chief executive officer of Vodafone Group Plc.

The Bangalore-based company is a so-called social commerce startup that allows people to build connections online and then sell through social networks such as Facebook and WhatsApp. Other investors in the company include Sequoia, Shunwei Capital and Venture Highway.

Meesho is part of a crop of new e-commerce companies that are trying to take advantage of social connections to facilitate sales. The startup says that it has a network of more than 2 million “social sellers” in 700 towns across India, focusing on categories like apparel, wellness and electronics.

“Our social sellers are small retailers, women, students and retired citizens, with 70% being homemakers who have found financial freedom and a business identity without having to step outside their homes,” said Vidit Aatrey, Meesho co-Founder and CEO.