iWorld
Report on Shemaroo

Meesho raises $300 million in fresh funding

The latest investment values the social commerce platform at $ 2.1 billion.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2021/04/05/img_05042021_133715_800_x_800_pixel.jpg?itok=kt9vgyKl

KOLKATA: Social commerce platform Meesho has raised $300 million in a new round of funding led by SoftBank Vision Fund 2. The latest investment values Meesho at $2.1 billion.

The start-up will use the new fund raise to strengthen its talent pool across verticals — tech, product, and business, among others. It saw participation from existing investors — Prosus Ventures, Facebook, Shunwei Capital, Venture Highway and Knollwood Investment.

SoftBank Investment Advisers managing partners Munish Varma said, “Globally, SoftBank has always been excited to back founders that provide unique solutions for the local market. By using the power of artificial intelligence and machine learning, Meesho has created a platform for many small business owners to sell to the next cohort of internet users.  We look forward to being a part of this journey.”

Meesho aims to simplify e-commerce for all small businesses in India. It will help the company to build a platform which is pro-small businesses with policies and tools to help even the smallest of sellers to list and do business on Meesho. This will empower small business owners to reach customers through all online channels.

In the past year, the platform has seen tremendous growth across small businesses and entrepreneurs seeking to move their businesses online, Meesho founder and CEO Vidit Aatrey said.

“With the new round of funding, we are extremely thrilled to have SoftBank onboard. We are focused on expanding our vision — from helping aspiring women entrepreneurs to creating Meesho as a single ecosystem that will enable all small businesses in India to succeed online,” he added.

Over the last six years, Meesho has successfully enabled over 13 million individual entrepreneurs to start their own online businesses with zero investment, bringing the benefits of e-commerce to more than 45 million customers in the country. Till date the company has delivered orders from 100K+ registered suppliers to over 26,000 pin codes in more than 4,800 cities, generating over 500 crore in income for individual entrepreneurs and serving customers in more than 4,500 tier-2 cities and beyond.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/photogrid_plus_1619087965974_0.jpg?itok=jGDN76iY
Flick registers 42 mn+ views, 100 mn+ impression across social media

KOLKATA: The Zoom Studios’ short-format content brand Flick has registered 42 million+ views and 100 million+ impression across The Zoom Studios YouTube channel, Facebook and Instagram. With powerful 40 individual stories, Flick has produced an exclusive suit of short format videos that captures a...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/photogrid_plus_1619087456029.jpg?itok=2RoxeEqQ
Short video platforms rise with Bharat positioning

KOLKATA: The star of user-generated content was on the rise in India due to TikTok, only to be abruptly curtailed when the government banned the Chinese-origin app. Now, nearly a year after TikTok’s exit, a number of homegrown short form video platforms have emerged to plug the gap. It seems that...

iWorld Video On Demand
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/maya.jpg?itok=BvZo8ZVE
Twitter APAC VP Maya Hari lands global role

NEW DELHI: Twitter Asia Pacific vice president & MD Maya Hari has been assigned a new global role as VP of global strategy and operations. She will continue to be based in Singapore, and will lead a global team.

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/disney.jpg?itok=fiYSTr9H
Disney inks massive deal with Sony to stream ‘Spiderman’ & other films

NEW DELHI: After months of see-sawing and multiple rounds of negotiations, Disney has signed a deal with Sony Pictures that will allow Disney+ to stream Spiderman and other Marvel properties in the United States after they play on Netflix. Disney revealed that it will also add a significant number...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/fb_0.jpg?itok=JBsIhs_L
Delhi HC dismisses WhatsApp, Facebook pleas against CCI order

New Delhi: The Delhi high court on Thursday dismissed the plea filed by Facebook and WhatsApp challenging the Competition Commission of India (CCI) order directing a probe into its controversial new privacy policy. The court said it found no merits in the petition and refused to quash the CCI probe.

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/21/reed-hastings.jpg?itok=DYqSzMgR
India is a ‘speculative’ investment: Netflix’s Reed Hastings

It is not easy to win over Indian consumers given the diversity of the market – be it in terms of language, income or preferences. Since its foray into India, streaming giant Netflix has taken several measures from the dual point of view of content and pricing.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/21/img_21042021_133856_800_x_800_pixel.jpg?itok=2osryZqd
Lionsgate Play marches into Indonesia market

KOLKATA: Global streaming platform Starz has launched its direct to consumer OTT app Lionsgate Play in Indonesia, expanding its presence in Asia following a successful launch in India.  With this, Lionsgate Play’s deep library of Hollywood blockbusters, film franchises and first-to-Indonesia...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/21/photogrid_plus_1618991448236.jpg?itok=QWYjgF-w
BookMyShow restructures senior leadership to bolster India operations

KOLKATA: Ticketing platform BookMyShow has rejigged its senior leadership, as the company strengthens its India management team across key business verticals. As part of the new structure, Anil Makhija will be in charge of scaling live entertainment operations as COO - live entertainment &...

iWorld e-commerce

Sign up for our Newsletter

subscribe for latest stories

* indicates required