Facebook makes its first investment in an Indian e-commerce startup, Meesho

Logo of Meesho

Logo of Meesho

India, and it's 1.4 billion citizens, has become the next key battleground for social media apps and tools, with all platforms now looking for ways to tap into the emerging Indian marketplace, where internet adoption is rising fast.

"An equity investment like this is a first in India". On November 5, 2018, the company received Series C funding worth $50 million from investors including DST Partners, RPS Ventures, and Shunwei Capital. We were excited about the founders and what they have built in such a short time.

According to Techcrunch, Meesho's user base is located primarily in small towns and cities throughout India, and 80 per cent of the platforms demographic is female.

Although the social networking giant did not disclose the amount, the move by Facebook is seen as a commitment to the country's vibrant Internet ecosystem.

".it is fueling female entrepreneurship, and therefore driving the job creation agenda".

Mumbai-based real estate developer, Wadhwa Group may invest ₹2,200 crore for development of the first two phases of its integrated township project, Wadhwa Wise City in Panvel, 40 kilometers east of Greater Mumbai, The Economic Times reported citing a company press release. Founded by IIT-Delhi alumni Vidit Aatrey and Sanjeev Barnwal in 2015, Meesho has created an alternative distribution channel by empowering aspiring entrepreneurs - especially housewives, young mothers, students, and teachers - to launch, build and promote their online businesses using WhatsApp, Facebook and other social media channels.

"Over the last 4 years we've grown from our humble beginnings, to a community of more than 15,000 suppliers and 2,000,000 resellers throughout India". "We share a common goal with Facebook - to enable the community and help small businesses grow", the company added.

Before this, the global social media giant Facebook had acquired Bangaluru-based mobile technology company Little Eye Labs in a high-profile deal estimated at under $15 million in 2014. That means there's no deterministic model or timeline for investments that may come with setting up a fund. we're open to explore conversations, and impact will be the sole lens that we apply.