Facebook's First Investment Is In Meesho The Indian E-commerce Startup

CTVCucLe - Jul 15, 2019, 12:32 pm IST


Facebook has just made its first investment in India on Meesho, an Indian start-up digital re-seller platform.

Meesho is a popular Indian start-up digital platform for a variety of re-sellers to connect with their prospective customers. The business is done via famous social media platforms like Instagram, Facebook, WhatsApp, etc. According to Ajit Mohan, the Facebook Indian vice-president and managing director, in a talk with Reuters, Meesho is having approximately 2 million entrepreneurs that are mostly focused on India’s smaller cities and towns.

1
Facebook announces its first investment in India to be in Meesho - Indian digital platform for resellers

"It reflects the new India that is showing up on the Internet," he added.

With that potential, Facebook is investing strongly in Meesho, as announced by the head of Facebook's Indian business. Its aim is to infiltrate deeply in India - one of the largest digital markets in the world.

Ajit Mohan also refused to reveal the exact value of how much the social media giant has invested in Meesho or how large the stake it's acquiring.

Meesho announced on its official website that this Facebook investment could help to increase its "efforts to enable independent entrepreneurs to build businesses and grow their customer base via social channels."

Starting with only two engineering graduates in 2015, Meesho has raised over-$64-million fund in which including DST Partners and Shunwei Capital as some of the highlighted backers.

Mohand said that his company's investment will be a great help for Meesho to maximize its impact on a central plank of India's economic growth agenda by helping job creation through entrepreneurship.

Facebook, Twitter, messenger app WhatsApp and other social media platforms have been scrutinized intensely by the Indian federal government. Strict Indian rules force companies to control the content uploaded on social media every moment.

New Delhi stated previously that consultations would be held widely in India among different Internet companies in order to finalize the rules regulating online content.

Next Story

Read More

How Can You Block Ads On Your Android Smartphone?

How To- Aug 20, 2019, 9:49 am IST

How Can You Block Ads On Your Android Smartphone?

Advertisements have always been a part of the internet era, and the problem has only got worse with the advancements of smartphone technologies.

Reveals Top 5 Best Budget Smartphones Under 10000 of Samsung 2019

Mobile- Aug 21, 2019, 4:06 pm IST

Reveals Top 5 Best Budget Smartphones Under 10000 of Samsung 2019

Have a look at the top 5 greatest and stylish smartphones under 10000 of Samsung below.

Microsoft Releases Its New Chromium-Based Edge Browser For Testing

ICT News- 11 hours ago

Microsoft Releases Its New Chromium-Based Edge Browser For Testing

Microsoft rolled out the overhauled web browser Edge Beta 1 and the company wants people to help it remove bugs so as to improve the tool before its launch.

Intel Is Testing Its New Power-Sipping Lakefield Chip For Ultrathin PCs

ICT News- Aug 21, 2019, 2:59 pm IST

Intel Is Testing Its New Power-Sipping Lakefield Chip For Ultrathin PCs

Intel is developing a new chip called Lakefield which is groundbreaking in terms of packing significant performance in such a small component.

7 Ways AI Is Helping With Companies’ Employees Recruitment

Features- Aug 21, 2019, 10:30 am IST

7 Ways AI Is Helping With Companies’ Employees Recruitment

Companies are now using AI-based solutions to speed up the process. Here are 7 instances where AI takes part in revolutionizing the recruitment process.

Reddit Is Experimenting With Live Video Streams

ICT News- Aug 20, 2019, 12:06 pm IST

Reddit Is Experimenting With Live Video Streams

Reddit launched Reddit Public Access Network (r/pan) for users to post live stream videos with strict rules about what is allowed and what is not