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Meesho delivers 1.3 Bn orders during first 9 months of FY25

EntrackrEntrackr · 6m ago
Meesho delivers 1.3 Bn orders during first 9 months of FY25
Medial

Homegrown e-commerce platform Meesho has released its first annual report, highlighting strong growth driven by technology and AI. The company claims that it became the first horizontal e-commerce platform in India to achieve profitability in FY24, generating Rs 197 crore in free cash flow. Its adjusted losses dropped by 97% to Rs 53 crore (excluding employee share-based compensation). As of December 2024, Meesho reported 187 million annual transacting users—serving approximately 13% of India’s population, as per the report. Between April and December 2024, users placed 1.3 billion orders, cementing Meesho’s position as the most downloaded shopping app for the fourth consecutive year. The platform processes 67 trillion features daily and handles 500,000 user requests per second at peak load. Meesho’s logistics arm, Valmo, handled over 50% of its daily orders, covering 15,000 pin codes and creating 85,000 jobs. Supporting 400,000 sellers with a 0% commission model, Valmo has made online selling more accessible for SMEs. In February last year, Meesho announced the launch of Valmo, a full-fledged logistics marketplace that allows the network of micro-entrepreneurs to become Meesho partners and deliver orders in their nearby areas. Meesho also plans to go public later this year, aiming to raise around $1 billion at a $10 billion valuation, with JP Morgan potentially joining the IPO syndicate.

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Meesho to rename legal entity ahead of $1 Bn IPO

EntrackrEntrackr · 5m ago
Meesho to rename legal entity ahead of $1 Bn IPO
Medial

Meesho to rename legal entity ahead of $1 Bn IPO Homegrown e-commerce platform Meesho has received board approval to change its legal name as part of a strategic move ahead of its public listing. The company’s board and members have approved a special resolution to rename the entity from “Fashnear Technologies Private Limited” to “Meesho Private Limited,” according to a regulatory filing with the Registrar of Companies (RoC). This development comes just a month after reports indicated that Meesho is preparing for a $1 billion IPO. According to media reports, the firm shortlisted Morgan Stanley, Kotak Mahindra Capital, and Citi as its IPO advisers, with discussions ongoing to include JP Morgan in the syndicate. The bankers have reportedly valued Meesho at $10 billion for its IPO, with plans to file draft documents in the coming months. The company aims to list on the stock exchange around Diwali this year. On a year-on-year basis, the company saw a 33% year-on-year revenue growth, reaching Rs 7,615 crore in the fiscal year ending March 2024. It also reduced its adjusted losses by 97% to Rs 53 crore. During the first nine months of FY25, Meesho delivered 1.3 billion orders.

Meesho co-founders exercise 27 lakh options ahead of IPO

EntrackrEntrackr · 5m ago
Meesho co-founders exercise 27 lakh options ahead of IPO
Medial

Exclusive: Meesho co-founders exercise 27 lakh options ahead of IPO Meesho’s co-founders, Vidit Aatrey and Sanjeev Kumar, have exercised equity shares under the company’s 2024 ESOP plan—a move that comes as Meesho gears up for its Initial Public Offering (IPO). The board at Meesho has passed a resolution to allot 20,65,211 equity shares to Vidit Aatrey and 6,59,323 equity shares to Sanjeev Kumar following the exercise of stock options, according to regulatory filings accessed from the Registrar of Companies (RoC). Entrackr estimates that the exercised shares from the 2024 ESOP plan are valued at approximately Rs 1,023 crore ($120 million). However, Meesho clarified in a statement that these shares are not additional but part of the previously allocated ESOP pool. “Further, the valuation referenced in your email is incorrect, as these shares do not carry any additional value; they are simply existing ESOPs that the Founders have chosen to exercise,” the company’s spokesperson said. Meesho is planning to go public this year and aims to raise $1 billion through its IPO. Media reports indicate that the company will soon file its draft documents and is targeting a listing around Diwali. In 2024, Meesho announced its largest-ever ESOP buyback program, worth Rs 200 crore (approximately $25 million). This initiative is set to benefit around 1,700 past and present employees, spanning from junior executives to senior leadership. Meesho is the third largest horizontal e-commerce company after Flipkart and Amazon. The Bengaluru-based platform targets value-conscious consumers across tier II and III cities. It also operates logistics platform Valmo which currently handles over 50% of its overall orders. The firm recorded a 33% year-on-year revenue growth to Rs 7,615 crore in the fiscal year ending March 2024, while reducing its adjusted losses by 97% to Rs 53 crore during the same period. Notably, in the first nine months of FY25, the company claims to have delivered 1.3 billion orders.

Meesho claims 40% increase in total orders during annual festival sales

Economic TimesEconomic Times · 11m ago
Meesho claims 40% increase in total orders during annual festival sales
Medial

- Meesho, a SoftBank-backed ecommerce firm, experienced 40% year-on-year growth in total orders during its annual festival sales. - The company recorded 145 crore customer visits during the 10-day 'Meesho Mega Blockbuster Sale 2024'. - Tier-IV cities accounted for approximately 45% of the total customer visits during the sale. - Prepaid orders on Meesho's platform increased by 117%, indicating a shift towards digital payment options in tier-II and beyond. - Home and kitchen segment saw a notable 105% increase in YoY growth, beauty and personal care rose by 60%, and kids & baby essentials grew by 75%. - Meesho Mall, which offers branded products, witnessed a two-fold growth in orders.

Ecom Express records Rs 1,912 Cr revenue in first 9 months of FY25

EntrackrEntrackr · 5m ago
Ecom Express records Rs 1,912 Cr revenue in first 9 months of FY25
Medial

Ecom Express reported revenue from operations of Rs 1,912 crore during the first three quarters of FY25, according to an internal document reviewed by Entrackr. Ecom Express saw a dip in revenue alongside growth in losses. The company recorded Rs 2,653 crore in revenue for the full fiscal year FY24. Based on the current trajectory, Ecom Express is likely to close FY25 with around Rs 2,500 crore in revenue or possibly less. Ecom Express generated Rs 2,349 crore from courier services and Rs 260 crore from warehousing operations in the first nine months of FY25. The decline in revenue led Ecom Express to register a net loss of Rs 398 crore in the 9M FY25, compared to Rs 249 crore during FY24. Its adjusted EBITDA loss stood at Rs 104 crore in the first nine months of FY25. Before the acquisition, Ecom Express raised over $290 million. The discount sale of Ecom Express underscores the challenge of large logistics businesses with significant man-management requirements. Ecom Express has made progress with a strong leadership team in place.

Meesho launches last-mile logistics marketplace Valmo

EntrackrEntrackr · 1y ago
Meesho launches last-mile logistics marketplace Valmo
Medial

Meesho on Wednesday announced the launch of Valmo, a last-mile logistics marketplace that allows the network of micro-entrepreneurs to become Meesho partners and deliver orders in their nearby areas. Presently, only the logistics partners deal with Meesho’s orders but the company may open it for other e-commerce companies as well, a company executive said during a media roundtable. The move appears to be an attempt to raise a logistics infrastructure. “Valmo aims to create a national logistics solution by eliminating entry barriers for local players and helping them grow their businesses,” the company said in a press release. The company said it is building technological capabilities internally as well as with SaaS providers for deliveries through what it describes as the disaggregated network. It has also partnered ElasticRun, FarEye, LoadShare and Shipsy to create tech stack for Valmo. Meesho added that Valmo currently helps manage over 9 lakh orders on a daily basis which accounts for nearly 18% of third party e-commerce shipments in India. “Nearly 3,000 micro entrepreneurs who act as business partners ensure smooth functioning of these operations. This initiative has helped generate 35,000 indirect jobs through sustained engagement with these local partners,” the company said. It is worth highlighting that several companies including Amazon and Myntra have already tried to create such networks for last-mile delivery. That said, the move makes sense for Meesho which has emerged as the third largest e-commerce company after Flipkart and Amazon. Flipkart and Amazon both have separate logistics units: eKart and Amazon Transport Services. Unlike Valmo, both companies are full-fledged logistics units. Raising a full stack logistics infra requires a lot of capital and Meesho appears not to go that way. Meesho continues to work with Delhivery, Shadowfax, XpressBees, Ecom Express, among others for its logistics requirements.

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