Page 5 - Meesho

Venture Highway sells 1.5% stake in Meesho, makes 50-times returns

Seed fund Venture Highway has sold 1.5 per cent of its stake in e-commerce firm Meesho at an estimated valuation of about USD 3.5 billion, making a stellar 50-times return. Venture Highways in a statement said that it recently concluded a secondary sale of its part stake in Meesho to WestBridge Capital. The transaction resulted in a return of over 50 times to VH for its investment from its 1st vintage fund into the company," VH said in a statement. According to sources, VH sold its 1.5 per cent stake in Meesho at an enterprise valuation of about USD 3.5 billion. VH did not comment on the amount raised or enterprise valuation at which the sale was conducted. Venture Highway invested during the seed stage in Meesho and remains an investor in the Softbank-backed e-commerce firm. The firm did not disclose further details of the transaction. "Having firmly believed in Meesho's culture and founding principles, it has been a pleasure to be part of its journey since inception. We have cl

Venture Highway gets 50x returns in secondary sale of stake in Meesho

Venture Highway, an early and long-term backer of Meesho, invested in the company's first seed round over eight years ago

From music parties to war rooms to AI: Inside e-tail festival battles

E-commerce retailers are expected to garner sales worth Rs 90,000 crore this festive season, 18-20 per cent higher than last year, according to the analysts

Gone shopping online: The best deals and discounts for festive season

E-commerce giants and niche websites are wooing customers to log in and splurge

Meesho Festive Season Sale starting today, offering up to 80 per cent off

Meesho begins its Mega Blockbuster sale today, October 6, 2023, and offers 80 per cent off on different products. The sale will conclude on October 13

E-commerce firm Meesho logs 10 million orders in pre-festival sales event

The SoftBank-backed firm expects over 3X growth during the upcoming festive season

E-tailing in India is expected to grow 5x to $300 bn by 2030: Redseer

There is expected to be 6 to 8-fold growth in 3PL (third-party logistics) shipments between 2022 and 2030 - from 2 billion in 2022 to an estimated 13-17 billion in 2030, according to Redseer report

Meesho makes platform non-GST inclusive to attract millions of new sellers

This move will potentially unlock 15-20 million sellers in historically under-penetrated states for the company

Meesho opens up its platform for sellers without GST registration

With an eye on 15-20 million non-GST registered sellers, SoftBank-backed Meesho has opened up its platform to onboard them for selling products online, the company said on Tuesday. The GST Council in July exempted small businesses making intra-state supplies through e-commerce platforms from taking GST registration if their turnover is below Rs 40 lakh in case of goods and Rs 20 lakh in case of services. The rule kicked in from October 1. "The platform has made significant technological adaptations which will enable non-GST sellers to start selling on the platform from October 1, 2023. This move will potentially unlock 15-20 million sellers historically under-penetrated states for the company," Meesho said in a statement. The company claims to have 1.4 million sellers on its platform. Meesho said it recognizes the unique characteristics of non-GST registered sellers, such as their high motivation and locally relevant selection from categories like fashion, consumer electronics and

81% intent on festival season e-shopping: Nielsen Media India study

The study also revealed that for 68 per cent of consumers, Amazon.in is the go-to online shopping destination

Meesho enables over 500,000 job opportunities for upcoming festive season

Meesho sellers are projected to hire over 3 lakh seasonal workers as part of their requirements for the festive season

Meesho Mall gears up for the festive season, features an array of brands

Since its launch last year, Bansal said Meesho Mall has been growing by about 30 per cent month-on-month, processing an impressive over one crore orders in the past six months

US-based investor Fidelity increases Meesho's valuation by 14.3%

With Fidelity's latest markup, Meesho is now valued at about $5.04 billion

E-commerce firm Meesho aims to digitise 10 mn small businesses by 2027

The company said this would unlock new opportunities for small, medium, and local enterprises with an annual turnover below 40 lakhs, to embrace digital commerce

Meesho aims to grow merchant base 10 times by 2027 as GST rules relax

With the government relaxing GST rules for online sellers, Softbank-backed Meesho aims to add 1 crore merchants on its platform by 2027, a top official of the company said on Tuesday. Meesho is the first e-commerce company in India to turn profitable at the group level (consolidated profit) and expects the momentum to continue, Meesho CEO Vidit Aatrey claimed. "We have 1.3 million (13 lakh) sellers on our platform. The recent change in policy to allow more sellers without GST is a big boost. We are now planning to add 1 crore more sellers across the country by 2027," Aatrey told PTI. He said that e-commerce is still at a very nascent stage and there are only 1.5-2 million merchants that sell online. "Internet penetration, network reliability, and online payments are increasing and people are buying online in a big way. We will continue with our outreach and do whatever is required to onboard sellers. These are the factors that will drive growth in the merchant base," Meesho ...

Weekend Bites: A week of pauses, pivots, profits, and big interviews

In which we munch over the week's platter of news and views

Green shoots of profitability finally emerging among Startups in India

Many companies such as Zomato, Meesho, and MobiKwik have now turned profitable while others like Paytm, Delhivery, and Zepto have showcased a clear path to profitability

Meesho becomes first horizontal e-commerce company to attain profitability

The SoftBank-backed firm saw over 1 billion orders in last 12 months; its order volumes rose by 43% and revenue by 54%

Meesho delists 5.2 million counterfeit, restricted products in six months

SoftBank-backed e-commerce firm Meesho has delisted nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products in the past six months, the company said on Wednesday. The total deactivated products account for less than 5 per cent of the total products listed on Meesho's platform, a company official said. Meesho said its "Project Suraksha" systems has detected and blocked over 12,000 bad actor accounts from accessing the platform. "The project has yielded impressive results, with nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products deactivated in the past six months. Since February, there has been a 80 per cent reduction in platform views for non-compliant listings, they now represent a mere 0.1 per cent of platform views," Meesho said in a statement. Meesho Founder and Chief Technology Officer Sanjeev Barnwal said the company leveraged advanced techniques in computer vision and natural language understanding to

Meesho says it removed 42 lakh counterfeit products from its platform

Under this project, Meesho has implemented stringent verification processes, engaged in brand partnerships, and leveraged analytical models for fraud detection