Facebook on June thirteen announced an undisclosed amount of funding in social trade startup Meesho.
This is Facebook’s first investment in an Indian startup.
Meesho was based in 2015 through IIT-Delhi alumni Vidit Aatrey and Sanjeev Barnwal. It connects resellers immediately with raw material providers through social media systems and connects person sellers and small organizations with clients. It presents small marketers with products and gear to begin, maintains, and develop their organizations. It facilitates a three-way market enabling resellers, SMBs, and micro-marketers across India to connect with capacity consumers using social media. The corporation claims that most of those marketers are girls who are realizing their dream of owning a business for the primary time.
“Facebook is a best friend for India’s economic boom and social development. We are excited about India and its swiftly growing Internet environment. With this funding in Meesho, we want to gas a business version that can bring about fast activity creation and the rise of a lady entrepreneurial magnificence in India. We love that the organization is translating the energy of online groups to enlarge economic opportunity for all of India, and specifically women,” said Ajit Mohan,
Vice-President, and Managing Director, Facebook India. The Bangalore-based startup last announced a fund boost of $50 million in a Series-C investment round from Shunwei Capital, DST Partners, and RPS Ventures. “Over the last four years, we have grown from our humble beginnings at IIT to fifteen,000 suppliers and 2,000,000 resellers all through India. We proportion a common goal with Facebook – to permit community and help small agencies develop. This dedication from Facebook will assist us in leapfrogging toward our goal,” stated Vidit Aatrey, co-founder, Meesho.