E-commerce player Meesho, backed by marquee investors like SoftBank Group and Meta Platforms, will look at an initial public offering (IPO) only in 2025, and till then, its focus is to generate profits after tax and not just be Ebitda (earnings before interest, taxes, depreciation and amortisation)-positive, top sources in company told Business Standard.
In a clear shift of strategy, the company, which has reduced its cash burn by 85 per cent, is now looking to trim its annual revenue growth target to 40 per cent from the 100-plus per cent earlier. The sources, however, said even this level of growth was far higher than that of most e-commerce companies.
In FY22, Meesho saw its revenues jump 4.5 times year-on-year to Rs 3,232 crore, while its losses rose even more steeply by 7.5 times to Rs 3,247 crore.
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