In its first investment in India, Facebook has pumped an undisclosed amount into social commerce startup Meesho, per a company statement. Although the amount is undisclosed, TechCrunch reports that the investment was “very significant”. Meesho connects small business owners and sellers to customers via platforms like WhatsApp, Facebook, and Instagram. The startup also helps people to manage their e-tailing businesses with tools such as sourcing, logistics and payments tools. The four-year-old startup claims to have 15,000 suppliers and 20 lakh resellers in India. Meesho’s resellers are largely homemakers and women dealing in apparel, home appliances, and electronics; in fact, 80% of Meesho’s user base is female, per TechCrunch.
Facebook had launched its Marketplace for India in January last year. Further, Facebook has also introduced plans to make its services interoperable; the company announced only last month that the WhatsApp’s recently announced Product Catalog will be integrated with Facebook’s Business Manager.
Meesho’s previous funding
Meesho is a Y Combinator incubated startup, and most recently raised $50 million from lead investors DST Partners, RPS Ventures, and Shunwei Capital in November 2018. Previous funding rounds were: