E-commerce platform Meesho has released its first annual report, showcasing robust growth driven by technology and AI advancements.
The company claims to be the first horizontal e-commerce platform in India to achieve profitability in FY24, generating ₹197 crore in free cash flow.
Meanwhile, its adjusted losses (excluding employee stock-based compensation) reduced by 97% to ₹53 crore.
As of December 2024, Meesho recorded 187 million annual transacting users, covering nearly 13% of India’s population.
Between April and December 2024, the platform processed 1.3 billion orders, maintaining its position as the most downloaded shopping app for the fourth consecutive year.
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Meesho’s tech infrastructure is also scaling rapidly, handling 67 trillion features daily and processing up to 500,000 user requests per second at peak times.
Its logistics arm, Valmo, now fulfills over 50% of daily orders, spanning 15,000 pin codes and creating 85,000 jobs. With a 0% commission model, Meesho currently supports 400,000 sellers, making online selling more accessible for small businesses.
In February 2023, Meesho launched Valmo as a logistics marketplace, allowing micro-entrepreneurs to become delivery partners and service their local areas.
Looking ahead, Meesho is preparing for an IPO later this year, targeting a $1 billion fundraise at a $10 billion valuation. JP Morgan is expected to be part of the IPO syndicate.
