Meesho was the first horizontal Indian e-commerce company to turn profitable. Since announcing profitability in July 2023, the company continues to remain profitable and cash flow remains positive.
Backed by SoftBank, Prosus Ventures and Meta, Meesho has been gaining traction as the fastest growing e-commerce platform in the country, according to the latest report by Alliance Bernstein.
The report says that Meesho currently has a GMV run rate of over $5 billion and around 120 million average monthly active users. In December 2023, Meesho exhibited 32% y-o-y growth in monthly active users, higher than 21% growth for Flipkart and 13% for Amazon.
In January, Meesho announced a series of initiatives that include multiple strategies to create a more secure marketplace. The company said it has set up stringent quality checks and uses a mix of technology and operational processes to ensure a secure shopping experience.
The evaluation of poor or unsatisfactory quality was conducted through a comprehensive analysis of customer reviews, ratings, and feedback. Post evaluation, Meesho delisted nearly 2 lakh products. The company also announced that it has invested in the power of artificial intelligence to fortify quality checks while continuously working to improve keyword databases and detection capabilities on the platform.
