Facebook has invested in India’s Meesho. Meesho is “an online reseller network of housewives and SMBs [small and medium scale businesses], who sell products within their network on social channels. The company is creating … e-commerce distribution channel via homepreneurs selling on WhatsApp, Facebook, and Instagram”. Simply, Meesho makes it possible for anyone to resell for brands through its networks on Facebook, WhatsApp and Instagram. The innovation here is making it possible for people to start their online stores via social channels, and earn income.
As Facebook explores ways to generate revenue from WhatsApp, the company is now turning to a startup that already has a lead. The social juggernaut said today it has invested in social-commerce startup Meesho in what is the first time the firm takes equity in an Indian startup.
Neither Facebook nor Meesho, which prior to this announcement had raised about $65 million from a number of investors, including DST Partners, RPS Ventures and Shunwei Capital, shared financial terms of the deal. A source familiar with the matter told TechCrunch that the capital was “very significant.”
Meesho, a Y Combinator alumnus, is an online marketplace that connects sellers with customers on social media platforms such as WhatsApp. The four-year-old startup claims to have a network of more than 2 million resellers who largely deal with apparel, home appliances and electronics items.
This business model is just simple and can be run nationwide in a place like Nigeria. Simply, the customer pays the shipping cost while Meesho or the supplier ships. A supplier is the person that owns the goods to be sold. This is how that supplier is brought into the platform.
The Resellers – Those Selling for Suppliers
When suppliers post their wares, the resellers help them share across the social media. Then, buyers buy and pay. This is like turning everyone possible into a sales agent, online.
“Someone should get a Nigeria version”.. I know our guys are really working hard back at home and hopefully they can come up with something close or near.
Meesho, is an Indian-origin social commerce platform founded by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal in December 2015.
What i want to take from here is ” Founded by IIT Delhi Graduates” There is a lot of motivation for people that go to this school due to its strategic location in Delhi, which is more quite close to one of indian’s Silicon Valley.
Notable people have graduated from Indian Institute of Technology Delhi is a public engineering institution located in Hauz Khas, Delhi, India, hence there is always some influence and preference in products that comes out from someone from this institution.. I can name top ten people in the industry what we use their product daily.
Lagos State University school of Engineering in Epe. With all the tech companies in Lagos Island and Lekki axis while we can also tag the location as Silicon valley replica, Why can’t they take LASU Engineering school as their Product innovating Hub?