hi INDiA Copyright 2020
Google infusing $50 million in Facebook-backed Indian platform Meesho
New Delhi: Meesho, a Facebook-backed homegrown social commerce platform, is likely to get over $50 million from Google, as it aims to build a single digital ecosystem for 100 million small businesses and hire the best talent in the industry, the media reported on Friday.
Meesho has enabled over 13 million individual entrepreneurs to start their own online businesses with zero investment, bringing the benefits of e-commerce to more than 45 million customers in the country.
According to a TechCrunch report, “Google has held discussions to invest over $50 million in Indian social commerce startup Meesho”.
When reached, Meesho declined to immediately comment on the report.
Google, which has pledged to invest $10 billion in India, currently backs Indian startups like DailyHunt, Glance and others.
Meesho has Facebook, SoftBank, Sequoia Capital India, Y Combinator and others as its investors.
In April this year, Meesho raised $300 million (over Rs 2,200 crore) in a new round of funding led by SoftBank Vision Fund 2, taking its valuation to $2.1 billion.
“We are focused on expanding our vision — from helping aspiring women entrepreneurs to creating Meesho as a single ecosystem that will enable all small businesses in India to succeed online,” said Vidit Aatrey, Founder and CEO of Meesho.
The company had said it has delivered orders from more than 100,000 registered suppliers to over 26,000 pin codes in more than 4,800 cities, generating over 500 crore in income for individual entrepreneurs.