Meeshos

Happy Friday! Peak XV Partners and Tiger Global are among investors likely to pick up secondary shares in ecommerce firm Meesho. More details in a packed edition of ETtech Morning Dispatch.Also in this letter:■ How VCs are planning exits ■ Cabinet nod for AI mission■ Flipkart to start q-commerce Peak XV, Tiger Global in talks to pick Meesho secondary stakeA group of investors including Peak XV Partners and Tiger Global has held talks to acquire a stake in SoftBank-backed ecommerce firm Meesho in a secondary deal, sources…

Ecommerce firm Meesho is diversifying revenue streams via two new business lines. Details of this and more in today’s ETtech Morning Dispatch.Also in this letter:■ Indonesian players behind recent hacks■ New SOPs for cybersecurity■ Scammers impersonate Peak XV, Sequoia CapitalMeesho joins carts queued up at credit & grocery countersIn a bid to diversify revenue lines and move towards profitability, ecommerce platforms are starting to enter the world of financial services. SoftBank-backed ecommerce firm Meesho is the…

Angel investors and early institutional shareholders in ecommerce company Meesho are in discussions with investors to divest their stake, people aware of the matter told ET.Talks are on for a transaction at a valuation of $3-3.5 billion, but this figure may change, people briefed on the matter said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking…

Until early in 2022, ecommerce startup Meesho was burning around $40 million a month in cash as it took on bigger rivals Amazon India and Walmart-owned Flipkart. As the etailer cuts its spends, growth has slowed down. Today we take a closer look at the company’s numbers and analyse its strategy. This and more in today’s edition of the ETtech Morning Dispatch.Also in this letter:■ Startup employees bear the brunt of funding winter■ Experts alarmed by surge in fake ChatGPT domains, extensions■ OCI’s Chris Chelliah on AI…

Until early in 2022, ecommerce startup Meesho was burning around $40 million a month in cash as it took on bigger rivals Amazon India and Walmart-owned Flipkart. That burn rate was halved over the rest of 2022 and has now been reined in to a relatively modest $5 million. Vidit Aatrey, cofounder and CEO of Meesho, told ET that the company is looking to pare that spend further by the July-September period. Doing so, however, will involve paying a price. There are no surprises in Meesho’s efforts to conserve cash given that…