Saturday, February 24, 2024
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Meesho

The Softbank-backed e-commerce firm has been able to slash its supply-chain overheads by 5% by bringing together India’s unorganised logistics players onto its tech-enabled platform

The company said that quality evaluation was conducted through a comprehensive analysis of customer reviews, ratings, and feedback

According to a report by TechCrunch the recent valuation adjustment is a result of a secondary sale transaction late last year, valuing Meesho at $3.5 billion

In September 2021, Fidelity spearheaded a $570 million funding round for Meesho, joined by B Capital Group, a venture capital firm co-founded by Facebook co-founder Eduardo Luiz Saverin.

It has welcomed over 25,000 non-GST sellers in the past two months

The initiative grants employees the opportunity to fully detach from work and prioritise their mental well-being, following the recent festive sale season

MSMEs from tier-2, tier-3 and tier-4 cities are clocking more Diwali orders than sellers from metro cities; Shiprocket's data reveals that 56 per cent of their order volume originates from non-metro cities

A recent report by the market research firm projects online sales during the upcoming festive season to grow by 18-20 per cent and touch Rs 90,000 crore this year

Based on industry insights, it has been observed that around 1.2 million sellers drop out every year during the registration process due to GST requirements

The aspirational goal marks a remarkable ten-fold expansion of Meesho’s current seller base of 1.3 million