Meesho Marks As India's First Profitable Horizontal E-commerce Company

August 2023 marked a historic moment for Meesho as it achieved profitability, becoming the first horizontal Indian e-commerce company to do so. This milestone is a testament to Meesho's dedication, strategic vision, and the steadfast support of its community of sellers and millions of users. The profitability announcement comes on the heels of a series of remarkable achievements that have propelled Meesho to the forefront of the e-commerce industry. With an impressive 9 crores orders processed each month, a thriving community of 13 lakh sellers, and an expansive user base of 14 crore annual transacting users, Meesho stands as a beacon of success in the competitive e-commerce landscape.

Meesho's Profitability: A Culmination of Dedication

In a monumental achievement for the Indian e-commerce landscape, Meesho, recently took to LinkedIn to annouce itself as the First Horizontal Indian E-commerce Company to Turn Profitable. 

The LinkedIn post reads,

🚀A historic milestone unlocked!

Meesho is now the First Horizontal Indian E-commerce Company to Turn Profitable!

We extend our heartfelt thanks to our incredible community of sellers and millions of Meesho users. Your unwavering trust and loyalty have been the driving force behind our success. A special shoutout to all Meeshoites, including our remarkable leaders Vidit and Sanjeev, for guiding this company towards unimaginable heights. Your inspiration fuels us every step of the way! 🙏

Meesho: A Journey of Innovation and Success

This Indian startup's journey towards profitability is a tale of innovation, persistence, and strategic expansion that spans several years. The company embarked on its path to transform the e-commerce landscape in August 2015 with the launch of Fashnear. A turning point arrived in June 2016 when Meesho was founded, setting the stage for its ambitious journey. Later that year, Meesho's potential was recognized as it secured a coveted spot in Y Combinator, a prestigious startup accelerator.

Meesho Funding: Key Milestones

The path to profitability was paved with strategic funding endeavors that fueled Meesho's growth. In November 2017, Meesho's potential garnered attention as SAIF Partners and other investors contributed to its Series A funding. Building on this momentum, Meesho secured Series D funding in August 2019 through investments from Napers and Facebook, which further solidified its position in the market.

The momentum continued to build as Meesho raised significant capital in subsequent funding rounds. Notably, in April 2021, the company led a Series E funding round, with the influential backing of Softbank Vision Fund 2. These investments not only fueled Meesho's expansion but also bolstered its ability to provide innovative solutions to its growing user base.

Meesho's Strategic Achievements

Meesho's journey to profitability was marked by several strategic milestones that underscored its rapid ascent in the e-commerce sector. In June 2021, the company achieved a remarkable milestone by processing 10 lakh daily orders, showcasing its growing influence in the market. Notably, the announcement of a 0% commission model in July 2021 further solidified its commitment to empowering local entrepreneurs and fostering a thriving ecosystem.

The achievement of 5.1 crore mother orders in September 2021 demonstrated Meesho's widespread impact on communities and businesses across India. The company's commitment to growth and innovation was reinforced with the impressive Rs 4,700 crore raised in Series F funding in the same month, setting the stage for further expansion.

Meesho's User and Seller Growth

Meesho's impressive journey towards profitability was propelled by remarkable user and seller growth. The platform's transformative impact on local entrepreneurs is exemplified by its steady rise in seller participation. Starting with a modest 696 sellers in 2017, Meesho's ecosystem witnessed exponential growth, culminating in a staggering 13,01,800 sellers in 2023.

Similarly, user engagement soared as Meesho's user base expanded exponentially year by year. From a modest 12,896 users in 2017, the platform garnered an astonishing 20,89,95,521 users by 2023, reflecting its widespread appeal and ability to connect buyers with a diverse range of sellers.

Meesho Is Changing Indian E-commerce Landscape For Good

Meesho's influence extends beyond numbers and funding. The platform's commitment to innovation and user satisfaction is evident in its achievements. The year 2022 marked a significant milestone when Meesho recorded a staggering 53.5 lakh orders in a single day, showcasing its robust infrastructure and operational excellence.

The platform's commitment to diversity and inclusivity is mirrored by its substantial presence in Tier 2 cities, with 75% of its users hailing from these regions. Furthermore, Meesho's dedication to providing a diverse array of products is demonstrated by its status as the largest selection of unique products in India, with over 65% of offerings being unparalleled in their distinctiveness.

Meesho's Global Recognition

Meesho's ascent to prominence was further affirmed when it achieved a coveted spot on TIME's list of 2023's most influential companies. This recognition solidified Meesho's status as a transformative force in the e-commerce landscape, with its innovative solutions and unwavering commitment to empowering local entrepreneurs receiving global acclaim.

Meesho's remarkable journey from its inception in 2015 to becoming the first horizontal Indian e-commerce company to achieve profitability in 2023 is a testament to its unwavering commitment, strategic growth, and innovative spirit. The platform's transformation of the e-commerce landscape, coupled with its dedication to empowering local entrepreneurs, has solidified its status as an influential and trailblazing force in the industry. As Meesho continues to thrive, its journey serves as an inspiration to aspiring entrepreneurs and businesses across India and beyond.