Latest news with #ViditAatrey
India.com
10-07-2025
- Business
- India.com
Meet Men, Once Target Of Trolls For Their Startup, Now Their Company Is Valued For Rs 320,000,000,000; Their Business Is…
photoDetails english 2929804 Updated:Jul 10, 2025, 03:47 PM IST Trolled But Not Troubled 1 / 8 Meesho wasn't always taken seriously. In fact, jokes and memes mocking its affordability flooded the internet. But instead of being discouraged, founders Vidit Aatrey and Sanjeev Barnwal turned the mockery into motivation—and built one of India's most valuable startups. (Images credit: @RohitKYT/X, @thefaadguy/X, @CA_vkchangani/X, @Investclubsv/X_ It All Started With a Failure 2 / 8 In 2015, IIT Delhi grads Vidit and Sanjeev launched a hyperlocal fashion delivery app—Fashnear. It didn't work. The duo even stood outside stores trying to attract customers. Though the idea failed, it gave them critical insights into India's retail market. Meet the Founders 3 / 8 Vidit Aatrey hails from a middle-class family in Meerut. Alongside his IIT mate Sanjeev Barnwal, they decided to try again—this time by supporting small sellers using social media. They saw potential in what others ignored. Birth of Meesho 4 / 8 The idea: empower home-based entrepreneurs, especially women, to sell products using WhatsApp and Facebook. They created a simple, commission-free platform—and Meesho was born in late 2015. Their dining table became their office. Trolled for Being 'Cheap' 5 / 8 As Meesho grew, so did online jokes calling it 'too cheap to trust.' But instead of fighting the image, they embraced it. Affordability became Meesho's USP—helping it win millions of price-conscious shoppers in smaller towns. Beating the Biggies 6 / 8 In FY2023, Meesho's user base grew by 32 per cent, ahead of Amazon's 13 per cent and Flipkart's 21 per cent. It became India's most downloaded shopping app, hitting 145 million installs, and reached customers in Tier 2 and Tier 3 cities like no one else, as per . The Meesho Model 7 / 8 Meesho allows over 1.1 million sellers to offer products in 700+ categories—without paying commission. That's how they keep prices low. In 2022, they crossed 100 million monthly orders. The business model clicked. A Unicorn Story That Inspires 8 / 8 In 2019, Facebook invested Rs 200 crore. By 2021, Meesho became a unicorn with 1 billion dollars valuation. From being the butt of jokes to becoming a top shopping platform—Meesho's journey proves that belief beats ridicule. (Images credit: @RohitKYT/X, @thefaadguy/X, @CA_vkchangani/X, @Investclubsv/X
India.com
09-07-2025
- Business
- India.com
Meet men, who turned memes into strength, built Rs 400000000000 company, competing with Amazon, Flipkart, their business is…
Competing in a market dominated by e-commerce giants like Amazon and Flipkart wasn't easy, especially with a small investment. In fact, Meesho was once a joke on social media memes mocking the company went viral. But instead of being discouraged, the founders turned those memes into their strength. What started as mockery became their winning strategy. How Meesho Started? This journey began eight years ago. In 2015, Vidit Aatrey and Sanjeev Barnwal, both IIT graduates, quit their jobs to start a business. Their first startup, 'Fashnear,' failed despite all efforts but they even spent entire days outside shops trying to attract customers. Though the failure was disheartening, it gave them the idea for their next venture. Vidit Aatrey comes from a middle-class family in Meerut. Along with his friend Sanjeev, he founded Meesho. What Was An Idea Behind Meesho? They noticed that many small shop owners, especially women running businesses from home were using platforms like Facebook and WhatsApp to sell their products. Vidit and Sanjeev saw an opportunity. They decided to build a better platform for these social media sellers, and in 2015, Meesho was born. Their model allowed users to sell products via social platforms and earn commissions. The two founders also realized that while Amazon and Flipkart focused on big cities, there was a massive untapped market in smaller towns. By the end of 2015, they had started Meesho out of a small two-room flat in Koramangala, Bengaluru. Their dining table became their first office. Memes On Meesho Meesho's claim of being the most affordable shopping platform triggered a flood of jokes and memes online. But instead of getting offended, Vidit and Sanjeev focused on work. They turned this image of being 'cheap' into their unique selling point (USP) and it worked for them Competing With Amazon and Flipkart According to a report by Alliance Bernstein, Meesho overtook Amazon and Flipkart in terms of user base growth in FY2023. While Amazon's user base grew by 13% and Flipkart's by 21%, Meesho grew by 32%. In 2023, Meesho became India's No. 1 shopping app, with 145 million downloads, according to The driver behind Meesho's rapid success was its zero-commission policy sellers paid no commission, helping them to offer products at much lower prices. Meesho now has over 1.1 million sellers and offers products across 700+ categories. Its current valuation is Rs 32,000 crore. In 2019, Facebook invested Rs 200 crore in Meesho. By 2021, it had reached unicorn status with a $1 billion valuation. In 2022, Meesho surpassed the milestone of 100 million monthly orders.
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Business Standard
03-07-2025
- Business
- Business Standard
E-commerce firm Meesho files confidentially for Rs 4,250 crore India IPO
E-commerce platform Meesho has confidentially filed for a Rs 4,250 crore IPO with market regulator the Securities and Exchange Board of India (SEBI), joining a wave of startups rushing to go public this year, according to people familiar with the matter. The Bengaluru-based company is targeting a market debut in September or October. The move comes as Meesho has emerged as India's third-largest e-commerce platform, reaching a gross merchandise value run rate of $6.2 billion for FY 2025. The company reported a 33 per cent increase in revenue to Rs 7,615 crore for fiscal 2024, while narrowing its net loss to Rs 53 crore from Rs 1,569 crore the previous year. Meesho's rapid ascent has disrupted the established duopoly of Flipkart and Amazon. Over the past four years, the company has increased its market share from low single digits to 8.9 per cent as of 2024. In contrast, Flipkart's share slipped from 33.7 per cent in 2020 to 32.1 per cent, while Amazon declined from 30.5 per cent to 28.3 per cent over the same period, according to a CLSA report. The IPO filing positions Meesho ahead of many other startups in India's public market rush. Fintech firm Pine Labs filed its draft prospectus with the market regulator last week, while furniture retailer Wakefit and cloud kitchen operator Curefoods submitted pre-IPO documents recently, signalling renewed momentum among consumer-facing startups. The company received shareholder approval last week to proceed with its initial public offering and to designate co-founder and chief executive Vidit Aatrey as chairman and managing director, according to sources. Till March 2024, Meesho was valued at about $3.9 billion, according to data platform Tracxn. A recent CLSA report projects the company will grow at a 26 per cent compound annual growth rate through FY 2031, as Meesho's gains come at the expense of incumbent players. Meesho did not respond to requests for comment on the company's IPO plans. The company, which counts Fidelity Investments, SoftBank Group, Prosus, and Peak XV Partners among its backers, joins other startups using the confidential filing route. A confidential pre-IPO filing allows companies to submit offering documents without immediate public disclosure, giving them time to address regulatory feedback while keeping financial details shielded from competitors. Online brokerage Groww, education platform PhysicsWallah, logistics firm Shadowfax Technologies, and industrial steam solutions provider Steamhouse India have recently filed for IPOs through the confidential route. Shadowfax Technologies, backed by Flipkart, is expected to raise between Rs 2,000 crore and Rs 2,500 crore, potentially valuing the company at around Rs 8,500 crore. Surat-based Steamhouse India is estimated to seek between Rs 500 crore and Rs 700 crore. The IPO filing follows Meesho's completion of a crucial corporate restructuring. In June, the National Company Law Tribunal (NCLT) approved Meesho's plan to relocate its headquarters from Delaware to India. The company is reportedly expected to pay approximately $288 million in taxes related to the so-called reverse flip. "This filing is part of our ongoing transition to re-domicile in India. With the majority of our operations, including customers, sellers, creators and Valmo partners already based here, this step aligns our corporate structure with our day-to-day business footprint," a Meesho spokesperson had said at the time. India's e-commerce market is currently dominated by four players: Flipkart, Amazon, Meesho, and Myntra, with Meesho's rapid market share gains positioning it as a formidable challenger to the established leaders.
New Indian Express
03-07-2025
- Business
- New Indian Express
Low-cost e-comm platform Meesho files for Rs 8,500 crore IPO
While Pine Labs, which is a leading merchant commerce platform focused on providing fintech solutions to businesses, is likely to have a fresh issue of Rs 2,600 crore, and an offer for sale of 14.78 crore shares, the low-cost direct-to-consumer (D2C) brand focused on sleep and home solutions firm Wakefit has structured its IPO with a fresh issue of Rs 468.2 crore and an OFS of 5.84 crore shares. On the other hand, cloud kitchen startup Curefoods, which just got converted into a public entity, filed for a Rs 800 crore. Its OFS details are awaited, while the logistics service provider Shadowfax Technologies has also confidentially filed the IPO papers for a Rs 2,500 crore issue along with an OFS, valuing the company around Rs 8,500 crore. Meesho, cofounded by Vidit Aatrey (chief executive) and Sanjeev Barnwal (chief technology officer) is looking to get listed around late September or early October, according a to source. Total money mopped up through the IPO will be around Rs 8,500 crore ($1 billion), of which Rs 4,250 crore each will be primary issues and secondary issues. In the run up to its IPO, Meesho too had converted into a public entity like Curefoods last month. The Bengaluru-based Meesho has chosen the confidential route as it looks to protect sensitive information from rivals Flipkart and Amazon among others. Earlier Shadowfax, Curefoods and the leading discount brokerage Groww and many others had done so and allows the issuer to reassess its IPO timelines if market conditions turn.
News18
03-07-2025
- Business
- News18
Meesho IPO: E-Commerce Firm Files Confidential DRHP With SEBI to Raise Rs 4,250 Crore
Last Updated: Meesho IPO: A few days back shareholders of Meesho had approved the plan to raise Rs 4,500 crore ($500 million) through a fresh issue of equity shares. Meesho IPO: Meesho, the budget-friendly e-commerce platform, has reportedly filed its draft red herring prospectus (DRHP) confidentially with the Securities and Exchange Board of India (SEBI), aiming to raise Rs 4,250 crore through its initial public offering (IPO), as per a report by Moneycontrol. A few days back sharesholders of Meesho had approved the plan to raise Rs 4,500 crore ($500 million) through a fresh issue of equity shares. In the filing with Registrar of Companies, Meesho announced that the resolution was passed during an Extraordinary General Meeting on June 25, 2025. Additionally, the shareholders approved the designation of co-founder Vidit Aatrey as chairman, managing director, and CEO. It is part of Meesho's board rejig ahead of the launch of its IPO. Meesho is reportedly expected to file Draft Red Herring Prospectus (DRHP) in the coming months under the confidential route, as MoneyControl reported earlier. The company is planning to raise a total of around Rs 8,500 crore ($1 billion) through a mix of primary capital and an offer for sale (OFS). Earlier, Meesho shifted the headquarters to India as part of its public listing plan. Meesho mergered its Delaware-based entity Meesho INC. with its Indian arm. In the past two weeks alone, Pine Labs, Wakefit, Curefoods, Shadowfax have all filed their DRHPs to raise a total of about Rs 6,000 crore in primary capital, Moneycontrol had reported earlier. The name change, effective from May 13, 2025, aligns with Meesho's strategic focus on strengthening its brand identity as a leading e-commerce platform in India. It reflects Meesho's evolution into a comprehensive online marketplace. The company will now begin the process for its IPO, though the timeline for the listing has not been disclosed. While Prosus and SoftBank jointly hold around 22 percent of Meesho, this stake is relatively lower compared to the combined ownership of Elevation Capital and Peak XV Partners, the two largest investors in the e-commerce startup. Despite entering the Indian e-commerce market relatively late in 2015, Meesho has expanded rapidly, particularly by focusing on Tier 3 and smaller markets, which cater to value-conscious consumers. This strategy has helped it gain significant market share, even against well-funded rivals like Flipkart and Amazon.
