Page 6 - Meesho

Nearly 75,000 sellers on Meesho record double digit growth in sales

Around 75,000 sellers achieved double-digit growth while over 20,000 sellers witnessed a 10-times jump in their business on Softbank-backed e-commerce firm Meesho, the company said on Sunday. Meesho is the first unicorn e-commerce firm to have reported profit this year and it claims to have maintained the profitability since it first reported the performance in July. The company claimed that nearly 10,000 Meesho sellers crossed the Rs 1 crore sales mark and 130,000 registered sales of over Rs 1 lakh during 2023. Around "60 per cent of these sellers come from small towns like Avinashi, Bharuch, Fiazabad and Silchar", Meesho said. Meesho said that it added around 7 lakh new sellers this year taking the total number to 15 lakh this year. The company recorded transactions for 14 crore customers and claimed that nearly 80 per cent of the orders came from tier 2 and smaller markets. Meesho said that it recorded a unique pattern of customers placing maximum orders on Sunday. "Indian sho

Softbank-backed Meesho adds nearly 25,000 non-GST sellers in 2 months

Softbank-backed Meesho on Friday said it has onboarded nearly 25,000 non-GST sellers since October 2023. In July, the GST Council provided exemption to small businesses having turnover below Rs 40 lakh in case of goods and Rs 20 lakh in case of services from GST registration for making intra-state supplies through e-commerce platform. The rule kicked in from October 1. "Welcoming nearly 25,000 non-GST sellers onto our platform reinforces our efforts to foster an inclusive digital ecosystem. "Committed to our goal of digitising 10 million sellers by 2027, Meesho stands firm in driving innovation and embracing the government's historic decision to eliminate mandatory GST registration for small businesses selling online," Meesho CXO Business, Megha Agarwal said in a statement. Earlier this year, Meesho implemented significant technological adaptations, paving the way for non-GST sellers to commence selling on the platform from October 1, 2023. "In the last two months, non-GST sellers

E-commerce firm Meesho says added 25,000 non-GST sellers in 2 months

Company says it is 'committed' to goal of goal of digitising 10 million sellers by 2027

Meesho announces a 9-day break for employees for mental well-being

The firm said this is a testament to Meesho's unwavering commitment to its employees' holistic growth and happiness

E-commerce firm Meesho's CXO for business Utkrishta Kumar moves on

Megha Agarwal, the current CXO for growth at Meesho, will take the mantle from Kumar and be the new CXO for business and Nilesh Gupta will take on the role of general manager for user growth

Meesho sees record 16 mn new app installs during Mega Blockbuster sale

With 1.2 billion customer visits, categories such as home and kitchen, fashion as well as beauty and personal care garnered more than 72 orders per second

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