Starting a business used to be a challenging task, but now, with Meesho, it has become simpler than ever. Meesho lets you open your online store through its app and lets you marketize it the way you want—through different social media platforms, etc. They make it easy to sell online and create an effective presence online. Meesho, originally formed as “meri eshop,” was founded in 2015 as a social commerce platform by Sanjeev Barnwal and Vidit Aatrey. Over the years, it has evolved into a powerful online reselling app, empowering millions to start their own businesses. And the impressive part—by 2021, over nine million women had launched businesses through this company, making it a significant force in promoting entrepreneurship across India.
The Evolution of Meesho: From Fashnear to a Leading E-Commerce Platform
Meesho’s journey began in 2015 when IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal launched “Fashnear,” a fashion app, that was designed to deliver products from local shops. While the concept was promising and fresh, it didn’t gain the momentum they expected. Instead of giving up, Vidit and Sanjeev reimagined their platform. In 2016, Meesho was born, shifting from a simple fashion app to a powerful tool that allows anyone to start their own online business with ease.
This was a new opportunity for women; they got recognition online, and their products made them make money by selling them as well. This highly innovative startup is breaking down barriers and creating new opportunities for individuals who might not have had access to such resources before.
Meesho’s Marketplace: Fueling Growth with Diverse and Affordable Products
As India’s fastest-growing e-commerce platform, Meesho boasts around 120 million monthly active users. It became the first Indian social commerce platform to become a unicorn. What sets it apart is its diverse range of sellers and products. Approximately 80% of sellers on the website are retail business owners, and 95% of the products sold are unbranded. This offers consumers a wide selection of affordable products while giving sellers a platform to reach millions of potential customers.
Success always brings competition, and Meesho has faced its share from giants like Flipkart’s Shopsy and Amazon-backed Glowroad. But even with these challenges, the startup has continued to grow. In 2023, it earned $689 million in revenue, though it hasn’t turned a profit yet, with a loss of $201.5 million. Still, despite these obstacles, this unicorn venture’s impact on India’s e-commerce market is clear.
Addressing Product Quality Concerns
Since most of Meesho’s suppliers are local and unregistered brands, the quality of the end products can sometimes be inconsistent. However, Meesho keeps prices low by sourcing products directly from manufacturers and wholesalers, cutting out middlemen, and reducing overhead costs. This approach allows the company to offer affordable options to consumers, though it’s important for buyers to be aware of potential quality issues. Although app downloads saw a slight decrease in 2023, dropping from 145 million to 134 million, the platform’s influence remains strong.
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