Meesho Could Be Looking At An IPO In Next 18-24 Months, Says CEO
Online shopping platform Meesho could be looking at an initial public offering in the next 18-24 months, given the market condition and its consistent performance.
Ever since Meesho announced that it has become the first horizontal e-commerce firm in India to turn profitable in August, talks on plans of a possible IPO have been gaining momentum, Vidit Aatrey, founder and chief executive officer at the e-commerce website, said in an exclusive interview with BQ Prime.
The startup's long-term goal is to bring 100 million small businesses in India online, Aatrey said at Meesho's 'Mission to 100 Million' event. India is primarily a small business economy, with 85% of it still being small-business led.
#Meesho could launch an #IPO soon according to Founder & CEO @viditaatrey.
August 22, 2023
This comes after a surge in revenues and company's first ever profit in July. @Meesho_Official @SakshiBajaj19
Also read: https://t.co/5gPG4Az02v pic.twitter.com/IY07jTDFOgMeesho was founded by IIT Delhi graduates Aatrey and Sanjeev Barnwal in December 2015. Meesho's unique selling proposition is that it doesn't charge a commission from the small businesses or sellers it onboards, Aatrey said.
In 2022, Meesho was declared the most downloaded shopping app in the world, with over 500 million downloads. Since then, the e-commerce platform has been clear that it will take on Amazon.com Inc. and Flipkart Pvt. with its focus on cheaper products, small town consumers and most importantly, the small businesses or sellers in India that need digitalisation.
Meesho was one of the first to join ONDC's mission to democratise internet commerce. The ONDC platform encourages small players and therefore, all steps taken for it are in the right direction, Aatrey said.
While Meesho's employment and business strategy has been different from other e-commerce counterparts, the focus on hiring women will rise, the CEO said. Aatrey also expects the share of women entrepreneurs from rural India to increase.
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