In 2015, IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal launched a fashion app startup called Fashnear, featuring on-demand delivery from local shops. Take-up was slow, and the founders resorted to picketing potential buyers outside of shops. The startup failed, but the following year Aatrey and Barnwal revived the platform and renamed it Meesho.
Meesho has an emphasis on social media use, particularly Facebook and WhatsApp. The company realised that small retailers were already using these channels to sell products, and sought to improve the process so sellers did not have to manage large group messages and many individual payments.
Meesho creates an online store through a retailer’s Facebook page, which is managed through the app. The store can then be shared with buyers through social media, and payment links sent through third-party apps. Both buyers and sellers can communicate, offering the opportunity to barter.
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To make the app more appealing to users, new vernacular languages have been added, including Bengali, Tamil, Gujarati, and Malayalam. The company hopes this will drive user numbers after it became India’s fastest ecommerce company to reach 100 million transacting users.
More than half of the entrepreneurs using Meesho are women and the app reached nine million female retailers in 2021. The app has targeted small businesses at the low-end of the ecommerce market, hoping its lack of seller fees would prove attractive to retailers. It makes money from charging an optional advertising fee which gives sellers higher placement in search results.
The company has yet to become profitable, and the net loss has been growing at a faster rate than revenue. In an attempt to address this, the company introduced a no returns policy for goods sold at a reduced rate and switched to pickup from the nearest delivery centre.
Meesho has also faced competition in recent years, from Flipkart’s Shopsy app and the Amazon-backed Glowroad platform. Meesho has also been unable to raise any more external funds since its last funding round in 2021.
We have collected data and statistics on Meesho. Read on below to find out more.
Meesho Key Statistics
- Meesho earned $403 million in revenue in 2022, up from $100.5 million the year prior
- Meesho was downloaded 145 million times in 2022. This is a fall from 192.8 million downloads in 2021
- Meesho registered a loss of $390.1 million in 2022, following losses each year since 2018
|Launch date||July, 2015|
|People||Vidit Aatrey (CEO)|
Meesho’s annual revenue has skyrocketed from around $700,000 in 2018 to $403 million in 2022.
Meesho annual revenue 2018 to 2022 ($mm)
Meesho Net Income
Meesho has made a net loss each year since 2018, rising to $390.1 million in 2022 from $52 million the year before.
Meesho net income 2018 to 2022 ($mm)
Meesho’s monthly active users grew by around 100 million from 2020 to 120 million in 2022.
Meesho annual users 2019 to 2022 (mm)
Source: Business Today
Downloads of Meesho peaked in 2021 at 192.8 million, falling to 145 million the following year.
Meesho annual downloads 2017 to 2022 (mm)
Meesho has completed six funding rounds which generated almost $1 billion. The largest funding round secured $570 million in September 2021, valuing Meesho at $4.9 billion.
Meesho funding rounds 2017 to 2021 ($mm)
|Year||Amount Raised ($mm)|
Meesho ecommerce market share India
How many retailers are on Meesho?
Meesho had 15 million entrepreneurs in 2021, nine million of which were women.
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