Meesho

Meesho cuts loss from Rs 1,569 cr to Rs 53 cr from higher revenue of 33%

Softbank-backed Meesho has reported a significant narrowing of losses to Rs 53 crore while its revenue increased 33 per cent to Rs 7,615 crore in FY24, the company said in its annual report on Wednesday. The e-commerce firm had posted a loss of Rs 1,569 crore, excluding ESOP cost, and revenue of the company was at Rs 5,735 crore in FY23. Meesho, however, claimed to be the first horizontal Indian e-commerce company to achieve profitability in FY24 and the first to generate positive free cash flow of Rs 197 crore for the full year. "Our revenue from operations grew 33 per cent to Rs 7,615 crore driven by an increase in our unique annual transacting users as well as higher order frequency of our existing loyal customers. This success stems from driving efficiencies across multiple areas like logistics, as well as leveraging Generative AI and Machine Learning for better discovery, improved in-app experience and round-the-clock customer support," the report said. Meesho Founder and CEO

Meesho's logistics arm Valmo handles 50% of orders, doubling from last year

In just one year, the company's logistics arm has expanded to approximately 15,000 pin codes, supported by 6,000 logistics partners and creating 85,000 jobs as of December 2024.

Meesho gears up for $1 bn IPO; enlists Morgan Stanley, Citi as advisors

Bankers have pitched a valuation of $10 billion for Meesho's IPO with plans to file draft papers in the coming weeks, seeks listing by Diwali

Meesho launches 'creator marketplace' to ramp up influencer-driven traffic

The e-commerce firm is partnering with creators who resonate with the diverse lifestyles of its 187 million annual transacting users

Small town buyers, Gen Z push Meesho's order growth by 35% in 2024

Despite challenging market conditions, Meesho sustained its growth trajectory, reaching approximately 175 million annual transacting users in 2024

Meesho unveils multilingual Gen AI-powered voice bot for human-like support

Designed to autonomously handle a wide range of customer interactions, Meesho said the voice bot currently handles about 60,000 calls daily

Meesho acts against 22 mn suspicious transactions, files 12 cases in a yr

SoftBank-backed e-commerce platform Meesho has acted against 2.2 crore suspicious transactions on its platform and filed 12 cases in the last 12 months, according to the company's annual report released on Monday. Meesho's 'Trust Assurance Report' said that it's team has developed pioneering analytical models, sophisticated data science frameworks, and advanced computational logic, which has helped prevent 13 lakh bot orders and blocked 77 lakh scam attempts from accessing the company's platform. "In the last 12 months, Meesho has prevented over 2.2 crore fraudulent transactions. Additionally, Meesho undertook extensive steps to remove bad actors from the platform," the report said. The report said that as part of its effort against account takeover fraud, Meesho launched a proactive investigation that led to filing of 9 cases against over 40 suspects in Kolkata and Ranchi. "By working closely with authorities, Meesho achieved an impressive 98 per cent success rate in addressing ..

Meesho under fire for selling t-shirts with Lawrence Bishnoi's image

A social media post was shared by filmmaker Alishan Jafri, who pointed out a series of t-shirts being sold on the company's platform, featuring Lawrence Bishnoi's images

E-commerce sites record Rs 1 tn in sales; non-metros drove festive shopping

Demand from non-metro consumers, coupled with increased interest in luxury brands, drove festive season sales

Meesho generates positive operating cash flow of Rs 232 cr in FY24

Company says it is India's first horizontal e-commerce platform to have free cash flow as adjusted losses reduce by 97% to 53 cr

VC in India funding up 50% in Q1-Q3 2024 on increased big-ticket deals

A total of 883 deals were announced between January and September 2024, marking a 7.3 per cent rise in deal volume compared to the same period in 2023

Meesho records 40% increase in total orders during annual festival sales

SoftBank-backed e-commerce firm Meesho on Monday said that it has recorded a 40 per cent growth year-on-year in total orders during the latest annual festival sales. The e-commerce firm claims to have recorded 145 crore customer visits during the 10 days long 'Meesho Mega Blockbuster Sale 2024'. "During our Mega Blockbuster Sale this year, we achieved over 40 per cent growth in orders, surpassing industry expectations. With around 3 crore app downloads and a 45 per cent increase in new-to-e-commerce users, we are reinforcing our commitment to making e-commerce accessible and affordable for millions across the country," Milan Partani, General Manager, User Growth at Meesho said. Meesho's flagship sale held from September 27 to October 6, 2024. "The company witnessed an impressive increase in demand this year, with total orders rising over 40 per cent compared to last year," the statement said. The company said that it observed around 45 per cent of the total customer visits from ti

Tier-IV cities boost Meesho's festive sale; total orders increase 40%

This festive season, customers embraced self-care and home improvement, leading to growth across Meesho's categories

Festival season sales kick off to record-breaking start for e-com majors

Meesho reported a 100% increase in Day 1 orders compared to last year

Meesho sees 65 mn unique visitors on Day 1 of festive sale; orders double

SoftBank-backed e-commerce platform Meesho on Saturday said it recorded about 6.5 crore unique visitors on its portal on Day 1 of the annual festive season 'Meesho Mega Blockbuster Sale'. Meesho Founder and CEO Vidit Aatrey said the company's app downloads reached around 1.5 crore ahead of the sale and the number of purchase orders has doubled on the first day of the sale on Friday as compared to that of the previous season. "By just 2 PM yesterday, we had already surpassed our previous best of highest orders placed on Day 1 previous year, and by the end of the day, that number had more than doubled. Around 6.5 crore unique customers visited the mobile app on Day 1," Aatrey said on a social media platform. According to a report by research firm Statista, the number of online shoppers was estimated to be about 25 crore across India in 2023 and it is likely to increase to 42.5 crore in 2027. Meesho claimed that the orders on Day 1 doubled compared to last year while it tripled compar

How's the josh at e-com war rooms as Amazon, Flipkart sales go live?

Amazon sets up over 20 war rooms compared to about 10 last year

Meesho's festival sale breaks record, doubles day 1 orders from last year

Fashion, personal care & beauty, home & kitchen, and electronic accessories drove the majority of e-commerce traffic on Meesho

Meesho expands portfolio with Bajaj, Himalaya, Bata amid festive jingles

With the festive season approaching, E-commerce giant Meesho has joined forces with various lifestyle brands. With the deals, Meesho now sells products in 30 categories

Meesho's annual festival sale from Sep 27, sees 42% rise in seller base

Softbank-backed e-commerce firm Meesho will start its annual festival sale, Meesho Mega Blockbuster Sale, from September 27 onwards with the highest number of sellers onboard among its competitors, the company said on Tuesday. The company has recorded about 42 per cent surge in sellers on a year-on-year basis to 20 lakh for the upcoming festival season. "Meesho's Annual 'Meesho Mega Blockbuster Sale' Starts on 27th September. With over 20 lakh sellers and 12 crore product listings across 30 categories, Meesho aims to make festive shopping more accessible, affordable, and convenient for shoppers across the country," the company said in a statement. Meesho claimed to have 14 lakh sellers onboard for Meesho Mega Blockbuster 2023. Amazon India has seen a 14 per cent growth in seller base but remains lower than that of Meesho for their upcoming annual festival sale "The Great Indian Festival". "Our current seller base exceeds 16 lakh sellers from all across the country," Amazon India,

Meesho hires 850k staff before festivals, mostly from tier-3, tier 4 cities

E-commerce platform Meesho on Thursday said it has hired 8.5 lakh seasonal staff within its seller and logistics network ahead of the festival season, mostly from tier-3 and tier-4 regions. This marks a 70 per cent increase from its seasonal hiring last year, according to a company statement. "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers and logistics providers to scale their business is resulting in meaningful economic opportunities that is driving financial inclusion in these regions," said Sourabh Pandey, CXO, Fulfilment and Experience, Meesho. Meesho's sellers have hired 5 lakh seasonal workers as part of their requirements for the festive season, the statement said. Additionally, Meesho has hired about 3.5 lakh gig workers through its third-party logistics providers including Delhivery, Ecom Express, Shadowfax, and Xpressbees, along with its own logistic ..