👩🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔♂️ A friendly human may check it before it goes live. More news here
🧔♂️ A friendly human may check it before it goes live. More news here
Meesho reports profitability in FY24
Indian ecommerce platform Meesho has released its first annual report, detailing growth and technological advancements.
The company reported profitability for the fiscal year 2024, becoming the first horizontal Indian ecommerce platform to achieve this milestone.
It achieved a positive free cash flow of 197 crore rupees (US$23.64 million).
The report noted a 97% reduction in adjusted losses, which fell to 53 crore rupees (US$6.36 million), excluding employee share-based compensation.
As of December 2024, Meesho had approximately 187 million annual transacting users. It reported a total of 1.3 billion orders placed between April and December 2024.
Recent Meesho developments
| Timeline |
|---|
30-Oct-2024 📈 Meesho’s revenue up 33%, achieves positive cash flow
|
30-Jan-2024 📉 Meesho’s valuation slashed to $3.5b by Fidelity
|
20-Sep-2023 📈 Meesho is India’s top downloaded ecommerce app in Q2, but lags on engagement
|
11-Oct-2022 💰 Meesho co-founder backs $3m round of Indian creator commerce firm
|
| 24-Sep-2021 🚀 Meesho founders back KitaBeli’s series A extension funding |
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.