Meesho, an online e-commerce company became the new crorepati unicorn. Divyanjali Mishra is a year under the legal working age in India at 13, but after witnessing her brother-in-online law’s success, the entrepreneurial bug bit this kid.
She too took the same route to create and market belts, wallets, and t-shirts on Meesho, starting a business that helped her become a crorepati before she was 18. Her companies, HK Traders and Parthasarathi Enterprises, execute 3,000–4,000 orders each day through Meesho and have an annual turnover of 24 crore rupees.
Indepth details about Online E-commerce Company Meesho Became the New Crorepati Unicorn:
Over 30 women, all under the age of 23, all from economically disadvantaged backgrounds, are now employed by her firm.
App for social commerce Many of these young, restless, ambitious, and talented businesspeople have found success thanks to Meesho, and since January 2021, at least 8,000 Meesho sellers have become crorepatis.
On Meesho, as many as 1.23 lakh small business owners have become lakhpatis. What is propelling this unicorn’s consumer and seller growth, which will reach over 127 million users in August 2022 alone? Speed is one quality that Meesho and its merchants share.
“Our goal is to democratise online shopping. More sellers sign up when the cost of testing out an online business is drastically lowered and onboarding occurs within 12 hours ” said in an interview, Megha Agarwal, CXO, user growth at Meesho.
Additionally, it provides functions like the 7-day payment functionality that are specific to startups and small businesses. These vendors can pursue expansion if they are paid more quickly so they can reinvest. With the “Zero penalty” function, which prevents sellers from being penalised for manually or automatically cancelling orders, it also helps to mitigate some risks, according to Meesho.
At 13.6 MB, Meesho’s app is also the smallest e-commerce app in India. Amazon’s app needs 59 MB of space, but Flipkart’s just needs 18 MB.
“Tier 2, Tier 3, and Tier 4 cities in India account for the majority of our clients. We are aware that not all of our clients have cellphones with large data storage capacities. So, we made our software extremely lightweight. We are now offering the app in nine regional languages to make onboarding simpler,” Agarwal added.
Meesho, which is supported by Facebook and SoftBank, has had 360 million downloads to date, with 175 million of those downloads occurring just in the past year.