Meesho Aims To On-Board 10 Million Small Businesses By 2027

New Delhi, Aug 23 (KNN) E-commerce unicorn Meesho to on-board 10 million (1 crore) small businesses by 2027, according to a report in The Hindu Businessline.

Vidit Aatrey, CEO and Founder at Meesho said, “Our commitment to on-board 10 million sellers onto the platform by 2027 serves as a resounding testament to our ongoing mission of democratising internet commerce for all. The resilience and vitality of MSMEs form the backbone of our nation, and their empowerment holds the potential to breathe life into a rejuvenated economy.”

At present India has around 85 million MSMEs, yet only a mere 1.5 million currently operate within the online sphere, showcasing an immense untapped potential within this sector.

With a substantial portion of new seller registrations faltering during the GST registration phase, the company intends to take advantage of the anticipated easing of GST regulations and unlock opportunities for micro and small enterprises to embark on their inaugural online journey.

Moreover, the strategic shift is set to usher in a new wave of entrepreneurs, spanning homemakers, boutique owners, and mom-and-pop stores.

In the recent past, Meesho also announced attaining profitability. The company achieved profitability at a consolidated level, factoring in all costs, including ESOP, across various divisions and categories, and achieved the milestone ahead of schedule. Additionally, it also reached 500 million downloads, signifying its wide user base and influence in the market.  (KNN Bureau)