Established in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho proudly boasts a community of over 1.5 million sellers on its online platform, spanning the corners of India. The company also takes pride in serving more than 140 million active users annually.
Just a few weeks ago, the ecommerce venture initiated a generous INR 200 crore (approximately $25 million) employee stock ownership plan (ESOP) buyback program. Meesho proudly declared this as its largest ESOP buyback endeavor to date, aiming to benefit approximately 1,700 past and present employees.
Meesho has prominent investors such as DST Partners, Elevation Capital, Facebook, and Prosus. Its parent company, Fashnear Technologies, saw a 48% decrease in net loss, from INR 3,248 Cr in the previous fiscal year to INR 1,675 Cr in FY23. In December of last year, the ecommerce unicorn announced that it became profitable in the second quarter of FY24.
Harsh Chaudhary, the former CXO of monetization at Meesho, transitioned to Flipkart as the VP of customer experience, focusing on strategy formulation and growth partnerships. His departure marks another notable executive resignation from Meesho following Utkrishta Kumar and Kirti Varun Avasarala. Meesho, established in 2015, boasts a massive community of sellers and a significant user base, recently initiating a substantial INR 200 crore employee stock ownership plan buyback. With key investors like DST Partners, Elevation Capital, Facebook, and Prosus, Meesho’s parent company, Fashnear Technologies, notably reduced its net loss, affirming its profitability in the second quarter of FY24.