BackMeesho claims 71% of new users came from tier 3 towns in 2021
In September, Meesho raised $570 million in a fundraising led by Fidelity Management and Research and Facebook co-founder Eduardo Saverin’s B Capital Group, more than doubling the startup’s valuation to $4.9 billion
PremiumBENGALURU: Social commerce platform Meesho saw over 71% of new users on its platform coming from tier 3 cities and beyond, the company said in a statement on Friday.
Meesho's direct platform witnessed a 15% year-on-year growth in total customers this calendar year. Top cities which saw new customers included Malkangiri in Orissa, Baikunthpur in Chhattisgarh, Munnar in Kerala, Mankachar in Assam, Khalari in Jharkhand, among others.
In addition to this, Meesho claimed that over 70% of entrepreneurs and distributors on its platform come from tier 2 towns, including Dimapur, Faizabad and Haldwani. This amounts to a total of 17 million Meesho entrepreneurs who are fulfilling customer demand in tier 2 and beyond towns, selling stock units such as apparel, personal care, kitchen, and home decor.
Earlier this month, Meesho had said that it has close to 9 million women entrepreneurs on its platform. These women entrepreneurs clocked two-fold growth in business volumes in 2021 compared with year ago, Meesho added.
"Through the course of the next year, the company will continue to fuel discoverability of hyperlocal businesses and products, make e-commerce accessible to value conscious customers and innovate to become the preferred e-commerce destination for the next billion users in the country. Meesho now aims to reach 100 million monthly transacting users by December 2022 and increase its roster to over 50 million products," the company said.
In September, Meesho raised $570 million in a fundraising led by Fidelity Management and Research and Facebook co-founder Eduardo Saverin’s B Capital Group, more than doubling the Bengaluru-based startup’s valuation to $4.9 billion.
Existing investors Prosus Ventures, SoftBank Vision Fund 2, and Facebook also participated in the round.
On Friday, the company said it has clocked over 88.5 million downloads from August to December, surpassing all other e-commerce players in the country. The company added that it saw its seller base grow to 400,000 in 2021, with highest participation from Gujarat, Delhi, Rajasthan, Uttar Pradesh and Maharashtra.
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