A startup company, Meesho, got funded by Facebook. (image via Tech Crunch)

Facebook Investing on India's Startup, Meesho

Facebook has just invested on an India’s company startup. The company name is Meesho and it was made 4 years ago. Although the startup is quite new, Facebook was brave enough to invest in them, because they grow rather fast.

Meesho is an e-commerce startup that facilitates people to sell products on their marketplace. Not only becoming seller, people are able to be resellers as well. While they are only in their fourth year, Meesho already has 15,000 suppliers and two million resellers as of recently. With this number, Facebook was happily investing in the company.

However, having many sellers and resellers are not the only reasons why Facebook decided to back them up with money. There are two more reasons that convinced Facebook to invest. First, Meesho doesn’t only focus on the big cities of India, but they also go to suburbs and rural places to reach local people. For people who live in suburbs and rural places, they most likely do not use internet that much, especially the elders. Second, Meesho is boosting female entrepreneurship. This is due to the fact that out of the 2 million resellers, 80% of them are women.

This is not the first time for Facebook to investing money for an Indian company. Back in July 2014, Facebook invested on Little Eye Labs, a startup that makes software tool to analyze the performance of Android Apps. It is reported that Facebook invested $10 – 15 million.

Source: https://techcrunch.com/2019/06/13/facebook-meesho-first-indian-startup-investment/