This archive report was first published on 14 August 2019.
On August 14, 2019, Naspers, the South African ecommerce and media conglomerate, led a $125 million funding round into social commerce marketplace Meesho with participation from Facebook and existing investors SAIF, Sequoia, Shunwei Capital, RPS, and Venture Highway.
Former Vodafone Group CEO Sir Arun Sarin also participated in the round.
According to Naspers, Meesho's phenomenal growth shows it has hit a sweet spot in the market and is well-poised to serve the next 500 million online shoppers in the country.
Meesho aims to create 20 million entrepreneurs by 2020 by connecting resellers to suppliers to curate a catalog of goods and services to sell.
Founded by Vidit Aatrey and Sanjeev Barnwal in December 2015, Meesho is India's largest social commerce platform enabling individuals to start an online business with zero investment.
