Page 8 - Meesho

Janus Henderson further downgrades PharmEasy valuation to $ 2.7 billion

Several other Indian startups such as Meesho, Swiggy, Byju's, Pine Labs, and Ola have seen similar cuts in their valuations

Meesho aims to achieve profitability in FY24, looks to grow revenue

E-commerce platform Meesho is aiming to achieve profitability in FY24 as it looks to increase revenue and optimise costs, according to a senior company official. Backed by SoftBank, the company also plans to surpass a revenue of Rs 10,000 crore by FY25. While the possibility of an IPO in FY24 is being considered, it will only happen if the company becomes profitable. The comments hold significance after Fidelity Investments, one of Meesho's investors, reduced the company's valuation by 10 per cent to USD 4.4 billion. "Our expectation is to achieve profitability within the current fiscal year, FY24. In FY23, we experienced a 50 per cent increase in revenues and reduced losses by two-thirds through cost optimisation measures. Cash burn has also decreased by 90 per cent," Meesho CFO Dhiresh Bansal said. Bansal mentioned that it is difficult to share specific numbers as the audit for the current fiscal has not yet concluded. However, the revenue run rate for Q4 FY23 was USD 800 million

Meesho becomes world's fastest shopping app to cross 500 mn downloads

Meesho's Android app is the lightest e-commerce app in India on Google Play, according to data analytics provider data.ai

Real change in value only about 6%, it's par for the course: Meesho CFO

Bansal also said the company was aiming to be profitable within the current fiscal year (FY24) on net profit basis

Meesho's valuation slashed 10% to $4.4 billion by Fidelity Investments

Fidelity holds stakes in the e-commerce firm through multiple funds

Top Headlines: Govt's dividend from PSBs, Meesho hints at IPO in '25 & more

Business Standard brings you top news at this hour

E-com firm Meesho hints at IPO in 2025; focus shifts to generating profits

The start-up makes around 10 per cent margins on its transactions, whose average ticket size is Rs 350

Top e-commerce platforms to stop selling seat belt alarm stopper clips

Amazon, Flipkart, Meesho, Snapdeal, and Shopclues had this item listed for sale

Meesho lays off 251 employees, CEO admits 'judgement errors in over-hiring'

SoftBank-backed e-commerce firing 15% of workforce, cites 'harsh circumstances'

Meesho fires 251 more in 3rd round layoffs; cites judgement error in hiring

Before this, Meesho had fired 150 employees in April and another 300 in August

Meesho's monthly active users count about 55% of Amazon, Flipkart: Report

Meesho is India's third largest e-commerce retailer with CY22 GMV of $4.5 bn and 7 per cent market share, growing much faster than overall e-commerce market, according to the brokerage firm Jefferies.

Meesho building portfolio to tap next billion users: CXO Utkrishta Kumar

Annual transacting users surged 80% to 140 million; orders up 135% to a record 910 million in CY22

Social commerce the way to tap growing online buyers from smaller towns

Indian e-commerce was worth $83 bn in 2022, will likely grow to $185 bn in 2026, propelled by deeper internet penetration and digital payments

Bluelearn raises $3.5 mn in seed funding from Elevation Capital, Lightspeed

Titan Capital, 2am VC, a few angels also invested; Bluelearn, which began as telegram channel for students, has over 150,000 members from 5,500 colleges and startups across 20 countries

Tata Digital loss up nearly 6x in 2022; revenue grew threefold, shows data

Revenue for FY22 jumped 3x per cent to Rs 15,979 crore, from 2020-21 (FY21) revenue of Rs 5,315.27 crore, said the company in its regulatory filings

Mumbai to Mirzapur: Meesho witnesses a record 910 million orders in 2022

At about 140 million, Meesho said its annual transacting users exceed the combined population of the top three nations in FIFA World Cup 2022: France, Argentina and Croatia

Meesho order volume more than doubles to 91 cr, onboards 5 lakh suppliers

Softbank backed e-commerce firm Meesho recorded over 100 per cent jump in order volume to 91 crore in 2022, the company said on Wednesday. The company onboarded around 5 lakh suppliers in 2022 of which 61 per cent were new to e-commerce and selling online for the first time, Meesho said in a statement. As per data shared by Meesho, its sellers were able to save Rs 3,700 crore in commissions in 2022 under the company's zero commission model. "From Mumbai to Mirzapur, a record 91 crore orders were placed this year, up 135 per cent year-over-year, equalling India's registered voter base in the 2019 Lok Sabha polls," the company said. Nearly 130,000 Meesho sellers did sales of over lakh and 6,000 crossed business of over Rs 1 crore in 2022, with Rajasthan and Uttar Pradesh leading the charge. According to market research firm Redseer Strategic Consulting, Meesho pipped Amazon to become the second-largest contributor in order volume during the first week of last festive season sale wh

One day in office, remote work for rest of the week for Meesho employees

E-commerce firm's Flexi-Office model offers employees financial support for relocating

Consumer interest watchdog's notices to Flipkart, Meesho for acid sale

Several states/UTs have already issued guidelines to regulate the sale of acids

CCPA issues notices to Flipkart, Meesho for sale of acid on their platforms

The Central Consumer Protection Authority (CCPA) has sent notices to e-commerce players Flipkart and meesho.com for gross violations of norms relating to sale of acid on their platforms. The notices follow reports that in recent acid attack on a girl in Dwarka, Delhi, the accused had bought acid from Flipkart. On Thursday, the Delhi Commission for Women issued notices to two e-commerce firms for allegedly allowing sale of acid on their platforms. The Delhi Police had also issued a notice to Flipkart after it found that the acid was procured from the e-commerce firm. "CCPA has sent notices to two e-commerce entities, namely Flipkart Internet Pvt Ltd and Fashnear Technologies Pvt Ltd (meesho.com) for gross violations relating to sale of acid reported on their platforms. It has directed these entities to furnish detailed responses within 7 days," Ministry of Consumer Affairs said in a statement. Any non-compliance by these e-commerce entities with the directions of CCPA's notices will