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Meesho becomes first profitable horizontal E-comm firm

The Business Guardian

|

August 09, 2023

Meesho, backed by SoftBank, has proudly announced that it has become the first horizontal e-commerce company in India to achieve profitability. The company revealed that it reached profitability at a consolidated profit after tax (PAT) level, covering all costs, including employee stock ownership plans (ESOPs), across all its divisions and categories.

Meesho becomes first profitable horizontal E-comm firm

Meesho embarked on its path towards profitability last year and surpassed this significant milestone well ahead of the anticipated timeline, achieving it as of July 2023.

Vidit Aatrey, the CEO and founder of Meesho, emphasized the company’s vision to empower small businesses, entrepreneurs, and customers. He stated, “Today’s milestone is a testament to the unwavering dedication of the entire Meesho family.” Aatrey highlighted that being the first horizontal e-commerce platform to achieve profitability in India reflects their commitment to driving sustainable growth, democratizing e-commerce for all, and unlocking India’s heartland’s true potential.

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