Google plans to invest $50 million in Meesho, and the future of social e-commerce in India is promising!

According to techcrunch, Google is discussing an investment of about $50 million in Indian social e-commerce company Meesho. If the investment is successful, Meesho's market value will be as high as $4.9 billion.

Meesho is an Indian social networking site, founded in December 2015. On this platform, small businesses and individuals can open online stores through social channels such as WhatsApp, Facebook, Instagram, etc. In addition, sellers can join Meesho without any prepayment of fees. They only need to supply the goods to the Meesho platform, and do not need to pay Indian tariffs, Indian consumption tax and any logistics fees, including domestic, international and Indian segments.

The simple entry procedures and conditions have also attracted a large number of sellers to Meesho. It is understood that in April 2021, 13 million entrepreneurs and more than 100,000 suppliers used Meesho. There are currently about 39 million sellers on the platform, most of whom are women.

On Meesho , categories such as men's and women's clothing, fashion accessories, children's peripherals, home furnishings and electronics are more popular among buyers.

According to data, as of March this year, Meesho's monthly sales have reached 19.6 million US dollars, a six-fold increase compared to 3.1 million in the same period last year. The number of monthly active users has reached 5.539 million, a ten-fold increase compared to the same period last year.

Meesho 's rapid growth has also attracted many corporate investments, and it received $570 million in the latest round of financing.

In addition to Meesho, Indian social e-commerce startup DealShare also plans to raise a new round of financing, with a scale of between US$150 million and US$200 million. The company initially used WhatsApp as its main social channel, with group buying as its main customers, and has business distribution in 40 cities in India.

In India, 85% of small retailers use social e-commerce, and these merchants use social channels to open up new e-commerce businesses. Therefore, the development prospects of social e-commerce in India are quite impressive.

India is the world's second largest online market with amazing potential for future development. Despite the severe epidemic in India, the development of its social e-commerce market is still good and this momentum is likely to continue. Coupled with the explosive popularity of smartphones and the deep penetration of high-speed mobile Internet, people are spending more time on their phones, which has also become a catalyst for the prosperity of social e-commerce in India.

According to market forecasts, the total value of India's social e-commerce market has increased from US$1 billion last year to US$1.5 billion this year. It is expected to reach US$20 billion by 2025.

India

Social e-commerce