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Meesho launches last-mile logistics marketplace Valmo

EntrackrEntrackr ยท 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 Meeshoโ€™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. โ€œValmo aims to create a national logistics solution by eliminating entry barriers for local players and helping them grow their businesses,โ€ 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. โ€œNearly 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,โ€ 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.

Meesho delivers 1.3 Bn orders during first 9 months of FY25

EntrackrEntrackr ยท 3m 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 usersโ€”serving approximately 13% of Indiaโ€™s population, as per the report. Between April and December 2024, users placed 1.3 billion orders, cementing Meeshoโ€™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. Meeshoโ€™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.

Meesho announces its largest ESOP buyback worth Rs 200 Cr

EntrackrEntrackr ยท 1y ago
Meesho announces its largest ESOP buyback worth Rs 200 Cr
Medial

Meesho has announced the initiation of an employee stock ownership plan (ESOP) buyback program of Rs 200 crore (approximately $25 million), making it the companyโ€™s largest ESOP buyback pool to date. This marks the fourth buyback at the horizontal e-commerce unicorn. The company bought back shares worth $1 million in February 2020, $5 million in November 2020 and $5.5 million in October 2021. The new buyback will benefit around 1,700 past as well as present employees across junior-level executives to senior leadership. Meesho provides small businesses, which includes SMBs, MSMEs and individual entrepreneurs, access to millions of customers, selection from over 30 categories, pan-India logistics, payment services and customer support capabilities. The Vidit Aatrey-led company recently announced the launch of Valmo, a full fledged logistics marketplace that allows the network of micro-entrepreneurs to become Meesho logistics partners. In July 2023, Meesho claimed that it was the first horizontal Indian e-commerce company to turn profitable. Since announcing profitability in July 2023, the company continues to remain profitable and cash flow positive. The company also cut its losses in FY23 by 48% but its revenue spiked 77% year-on-year to Rs 5,735 crore in the last fiscal year. Recently, community management app MyGate rolled out employee stock buyback program for more than 50 employees. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively.

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