Facebook invests $25m in Indian social commerce startup Meesho: Report

The Facebook logo is displayed and lit on a wall. Photo: Alex Haney/Unsplash

Facebook invested as much as $25 million (Rs 173 crore) in Bengaluru-headquartered social commerce startup Meesho, according to a report by The Hindu Business Line.

Meesho, a digital platform backed by Sequoia Capital, SAIF Partners, Bain Capital, Shunwei Capital, DST Partners and RPS Ventures, enables resellers to reach their customers via social media platforms such as Facebook, WhatsApp and Instagram.

According to a statement issued by Meesho earlier in June, the investment will help independent entrepreneurs “build their businesses and grow their customer base via social channels.” However, the deal size then could not be ascertained.

For Facebook, on the other hand, the investment will help it ramp up its presence in India, which is considered one of the biggest internet markets globally.

Resellers on Meesho’s platform sell anything from jewellery to mobile phones to customers, primarily in India’s smaller towns and cities. Co-founded by two engineering graduates in 2015, the startup claims to connect about 2 million entrepreneurs typically catering to tier II and III cities across India. Of this, close to 80 per cent are first-time women entrepreneurs.

Meesho, which shares a common goal with Facebook to enable the community and help small businesses grow, adopts a three-way marketplace model that connects consumers, resellers, and suppliers on a single platform.

The startup has so far raised over $65 million in funding.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.