TechBookyBusiness
No Result
View All Result
Sunday, June 26, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Funding

eCommerce Startup Meesho Raises $570 Million At $4.9 Billion Valuation

Ibhadojemu Sunday Oseyemere by Ibhadojemu Sunday Oseyemere
September 30, 2021
in Funding
Share on FacebookShare on Twitter

Indian eCommerce firm, Meesho, has secured $570 million in a Series F funding round, bringing the company to a valuation of $4.9 billion. The new financing round was co-led by Fidelity and B Capital Group, and it comes after a $300 million Series E funding round which valued the firm at $2.1 billion. The new round saw the participation of other investors including Prosus Ventures, SoftBank Vision Fund 2, Facebook, and Good Capital, and according to the firm’s Co-founder and Chief Executive Officer, Vidit Aatrey, it did not involve any secondary transaction.

Meesho also counts major companies such as Sequoia Capital India, Y Combinator, and Elevation Capital among its earliest investors. The Bangalore-based firm operates a three-sided marketplace that connects suppliers and resellers with customers on social media platforms such as WhatsApp, Facebook and Instagram. The resellers buy listed products from the suppliers and make a commission on each transaction when they sell to customers.

Meesho was founded in 2015 to help women start their businesses without the need for any capital, and currently, about 80 percent of the firm’s resellers are women. On a broader scale, the firm sought out to democratize internet commerce for everyone, including consumers, entrepreneurs and small businesses. Things did not roll out smoothly, or rather success was not achieved in a boom,  as an early investor recalled that Chief Executive of Meesho, Vidit Aatrey, used to package and make deliveries himself. “When we started in 2015, what was mostly available online was branded products that were being sold to tier 1 customers,” Vidit Safety said, adding that mostly smartphones, other electronics items and branded fashion products were popular then –everything else was basically offline. But things have improved rapidly over the years.

As of April this year, Meesho had 13 million entrepreneurs and over 100,000 suppliers using its platform. Chief Executive Vidit Aatrey refused to reveal new figures, but mentioned that the company had grown “three times since the previous fundraise.” He added that the startup has become a complete “horizontal player, where customers are buying from every category, including fashion, lifestyle, personal care, electronics and accessories, and automotive.” Earlier this year, Meesho ventured into the grocery space, and Vidit Aatrey said that the firm was fast making traction in the area.

Meesho, like other e-commerce firms, was drastically affected by the first wave of the pandemic last year but has now fully recovered. With the new funds, the firm plans to broaden its research and development efforts and hopes to increase its team by three times in the next 18 months. The startup also has the ambitious goal to reach 100 million transacting users by the end of next year.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Fitness Tracker Firm Whoop Valued At $3.6 Billion After Funding Led By SoftBank
    Fitness Tracker Firm Whoop Valued At $3.6 Billion After…
  • Klarna Is Europe’s Most Valued Private Fintech After $639m funding Round
    Klarna Is Europe’s Most Valued Private Fintech After $639m…
  • India's Xpressbees, A Logistics Firm, Attains Unicorn Status After A $300 Million Series F Funding
    India's Xpressbees, A Logistics Firm, Attains Unicorn Status…
  • Crypto Exchange platform FTX raises $420 million at a $25 billion valuation
    Crypto Exchange platform FTX raises $420 million at a $25…
  • Crypto Listing Platform CoinList Raises $100 Million At A $1.5 Billion Valuation
    Crypto Listing Platform CoinList Raises $100 Million At A…
  • Swiggy, One Of India's Biggest Food Delivery Services, Raises $700 Million At A New Valuation Of $10.7 Billion
    Swiggy, One Of India's Biggest Food Delivery Services,…
  • India's Cars24 raises $400 million, now valued at $3.3 billion
    India's Cars24 raises $400 million, now valued at $3.3…
  • Indian Edtech Giant Byju Raises $300 Million At A Valuation Of $18 Billion
    Indian Edtech Giant Byju Raises $300 Million At A Valuation…
Tags: businessFundingMeeshoOnline Store
Previous Post

Facebook Faces The Threat Of Bigger Fines In Russia Over Illegal Content, Reports Say

Next Post

African Currency Trading And Payment Startup, VertoFX, Secures $10 Million In Series A Funding

Next Post
African Currency Trading And Payment Startup, VertoFX, Secures $10 Million In Series A Funding

African Currency Trading And Payment Startup, VertoFX, Secures $10 Million In Series A Funding

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Fintech Playter Secures $55 million to scale its BNPL offering for SMEs
  • Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion
  • E-commerce giant eBay Acquires NFT Marketplace KnownOrigin
  • Big Data Startup Zenysis Gets $13.3 Million In Series B Funding, To Scale Its Platform Across Africa And Others
  • Raba Partnership Leads API Startup Connecting African Businesses Thepeer’s $2.1 Million Seed Funding Round

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce E-Naira earnings earnings season elon musk facebook fintech Funding gadget google government india Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

June 2022
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
« May    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Fintech Playter Secures $55 million to scale its BNPL offering for SMEs
  • Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion
  • E-commerce giant eBay Acquires NFT Marketplace KnownOrigin
  • Big Data Startup Zenysis Gets $13.3 Million In Series B Funding, To Scale Its Platform Across Africa And Others
  • Raba Partnership Leads API Startup Connecting African Businesses Thepeer’s $2.1 Million Seed Funding Round
  • Nigeria’s Healthtracka Raises $1.5 Million In Seed Funding

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$21,193.000.19%
  • ethereumEthereum(ETH)$1,216.361.41%
  • tetherTether(USDT)$1.00-0.15%
  • usd-coinUSD Coin(USDC)$1.00-0.23%
  • binancecoinBNB(BNB)$236.921.02%
  • rippleXRP(XRP)$0.3625600.92%
  • Binance USDBinance USD(BUSD)$1.00-0.45%
  • cardanoCardano(ADA)$0.503.20%
  • SolanaSolana(SOL)$40.03-1.14%
  • dogecoinDogecoin(DOGE)$0.07355710.20%
  • polkadotPolkadot(DOT)$7.990.22%
  • Shiba InuShiba Inu(SHIB)$0.0000121.53%
  • AvalancheAvalanche(AVAX)$20.400.46%
  • matic-networkPolygon(MATIC)$0.58-0.02%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....