On 13th June 2019, Facebook has announced an investment on Meesho, an Indian startup. Meesho is a platform that enables Indian entrepreneurs to establish online businesses via social channels.
It is claimed that this is the first ever equity investment of Facebook on an Indian startup. Also, this has seemed to be that the commitment to the country’s vibrant Internet ecosystem.
Ajit Mohan, Vice President, and Managing Director, Facebook India stated that “We are excited about India and its rapidly rising Internet ecosystem. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India”
He also added that “We love that the company is translating the power of online communities to expand economic opportunity for all of India, and especially women”.
According to Vidit Aatrey, Meesho, the company has started its way from 15,000 suppliers and now it houses 2,000,000 resellers throughout India and this happened in just 4 years
“We share a common goal with Facebook – to enable community and help small businesses grow. This commitment from Facebook will help us leapfrog towards our goal,” said Mohan.
India is the third largest start-up market globally and expanding its increasing presence in the world.
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Vibin is a tech enthusiast who loves talking about new technologies and gadgets. When he is not following computers and gadgets, you can find him binge-watching Netflix or making travel plans.