Meesho Ltd (MAINBOARD)

IPO Details AS PER DRHP

Key Performance Indicators (KPI)

Company Financial (In ₹Crore)

Peers Comparison

About Company

Incorporated: 2015
Industry: E-commerce & Technology Platform

Overview:
Meesho Limited operates a multi-sided technology platform that powers e-commerce in India by connecting consumers, sellers, logistics partners, and content creators. Through its marketplace, the company enables consumers to purchase affordable products while providing sellers with a low-cost, scalable platform to grow their businesses.

Business Segments

1. Marketplace
A technology-enabled e-commerce marketplace facilitating interactions among consumers, sellers, logistics partners, and content creators.
Revenue sources include:

• Order fulfilment services
• Advertising solutions
• Seller insights and platform services

2. New Initiatives

• A cost-efficient local logistics network for daily essentials
• A digital financial services platform expanding the company’s digital ecosystem

Operational Highlights (12 months ending June 30, 2025)

• 575,465 annual transacting sellers
• 213.17 million annual transacting users
• Strong growth in placed orders and platform engagement

Logistics Network – Valmo

Meesho’s logistics operations function through Valmo, which integrates:

• Third-party logistics providers
• First-mile and last-mile delivery partners
• Sorting centres and truck operators

This network ensures efficient and reliable order fulfilment across India.

Workforce

As of June 30, 2025:

• 2,009 full-time employees
• 2,000+ contractual staff engaged across functions

Strategic Focus

Meesho’s emphasis on cost efficiency, technology innovation, and ecosystem expansion has enabled the company to maintain positive cash flows while investing in new business verticals to strengthen its digital presence in India.

Strength

Strong Technology-First & AI-Driven Approach: A majority of the workforce is technology-focused, with 1,136 tech employees including 155 in AI/ML (machine learning) . This tech-first model improves scalability, reduces costs, and enhances stakeholder experience, reflected in a strong GMV-to-FTE ratio of ₹273.44 million.

India-Focused Product Design: The app is built for Indian users with a simple, intuitive interface, low app size, and support for 10 languages. Features like text, image, and voice search plus AI-based query resolution enable efficient customer support, resolving up to 60.26% of queries through GenAI tools.

Continuous Innovation Capability: Meesho’s experimentation platform “Abacus” enables rapid testing and deployment of new features. The system supports over 430+ concurrent experiments monthly and delivers around 34 new features per month, driving ongoing platform improvement and innovation.

Weakness

Dependence on Third-Party Logistics Partners: Product deliveries rely on Valmo-integrated logistics providers and five end-to-end partners. Any service disruption, failure, or decline in logistics quality may negatively impact operations, customer experience, and financial performance.

Technology Infrastructure Risks: Disruptions in technology systems or platform availability can affect service continuity. Inability to upgrade or innovate the technology stack may reduce competitiveness and adversely impact business, cash flows, and results of operations.

Reliance on Third-Party Software & Platforms: The company depends on cloud providers, licensed and open-source software, and social media platforms. Changes in access terms, algorithms, or availability could reduce user reach, disrupt operations, and affect scalability and platform reliability.