Mumbai: Meesho, India’s only true e-commerce marketplace, has released its inaugural annual report, highlighting how technology-driven innovation is driving exceptional growth. By harnessing cutting-edge technology and AI, Meesho is revolutionizing logistics, empowering Indian businesses, and making e-commerce accessible to ~187 million annual transacting consumers – the largest user base on a single Indian e-commerce platform.
By releasing this report, Meesho reaffirms its commitment to transparency and innovation in shaping the future of e-commerce – one that is inclusive, scalable, and sustainable, while staying true to its mission of Democratizing Internet Commerce for all.
Key highlights from the Annual Report:
- Prioritizing Growth With Profitability: Meesho became the first horizontal Indian e-commerce company to achieve profitability in FY’24 and the first to generate positive free cash flow of ₹197 crore for the full year. This success was fueled by efficiencies across multiple areas, including logistics, as well as the strategic use of Generative AI and Machine Learning to enhance product discovery, improve the in-app experience, and provide round-the-clock customer support. Meesho’s Selling, General, and Administrative (SG&A) expenses as a percentage of revenue declined significantly, supported by strong consumer awareness, organic traction, and the inherent operating leverage of a marketplace e-commerce model. As a result, adjusted losses narrowed by 97% from INR 1,569 crores to just INR 53 crores, excluding Employee Share Based Compensation expense.
- India’s largest E-commerce Platform by Users and Orders: As of Dec’24, Meesho had ~187 million unique Annual Transacting Users (ATUs), meaning ~13% of India has made a purchase through the platform. Total orders placed grew to ~1.3 billion between Apr – Dec’24, reflecting the increasing frequency and diversity of purchases, with more people turning to Meesho for a wide range of their daily needs. This trend has driven impressive growth across categories like Home & Kitchen, Beauty & Personal Care, and Kids & Baby Care. As a result, Meesho continued to be India’s most downloaded shopping app for four consecutive years, underscoring the platform’s growing appeal and reach.
- Valmo Powered >50% of Meesho’s Orders (as on Dec’24) – Revolutionizing E-commerce Logistics: Valmo has significantly enhanced efficiency while fostering local entrepreneurship, creating thousands of jobs, and driving sustainable growth in the logistics sector. Valmo was serving ~15,000 pincodes through ~6,000 logistics partners and handling over 50% of Meesho’s daily orders. Valmo is transforming India’s e-commerce logistics ecosystem by building a seamless, efficient, and cost-effective network that empowers local entrepreneurs and has created approximately 85,000 jobs till date. (Data as on Dec’24)
- Empowering Indian businesses: Meesho has reimagined e-commerce for Indian businesses by removing traditional barriers like high commissions and platform-owned competition. With 0% commission, intuitive tools, and smart discovery features, Meesho makes online selling simple—even for first-time digital entrepreneurs. Today, over 400,000 Annual Transacting Sellers, from large manufacturers to small businesses, thrive on the platform—unlocking scale, affordability, and opportunity.
- Cutting-Edge Technology at Unmatched Scale: Meesho’s cutting-edge technology operates at an unprecedented scale, making it the only Indian e-commerce platform managing such massive complexity. The backend system seamlessly handles over 500,000 user requests per second at peak. Similarly, the machine learning platform processes approximately 67 trillion features and over 3 trillion inferences per day. This immense capability enables Meesho to deliver an experience that is not only intuitive but also highly personalized, catering to a diverse user base—where approximately 36% are first-time online shoppers.
- Transforming Indian E-commerce with AI-Driven Innovation: AI powers Meesho’s seamless, intuitive, and inclusive shopping experiences, driving real-time personalization through a robust ranking system that curates unique experiences for users. Large Language Models (LLMs) enhance search by decoding vernacular expressions, correcting errors, and refining queries for precise results. GenAI-driven customer support, available in six Indian languages, resolves ~90% of queries at one-fifth the cost while improving Customer Effort Score (CES) and Customer Satisfaction (CSAT). On the logistics front, the GeoIndia model converts unstructured addresses into precise geolocations, outperforming industry benchmarks in rural regions. To maintain platform integrity, Meesho’s AI-first fraud detection system, powered by Generative AI and advanced architectures like Graph Neural Networks, ensures stringent quality checks, predicts Return to Origin (RTO), and detects fraud in real time. These innovations reinforce Meesho’s commitment to AI as a transformative force in delivering exceptional e-commerce experiences for every Indian.