Topics
Latest
AI
Amazon
Image Credits:Meesho
Apps
Biotech & Health
mood
Image Credits:Meesho
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
fundraise
Gadgets
stake
Government & Policy
Hardware
layoff
Media & Entertainment
Meta
Microsoft
privateness
Robotics
protection
societal
Space
Startups
TikTok
transport
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
get through Us
Meesho has become India ’s first horizontal e - commerce business firm to generate positive cash stream , marking a significant shift in a market where profitability has long remain tough even as young competitive threats come out .
The SoftBank and Prosus - backed startup , whichserves customers in small-scale Indian city and towns , reported positive operating hard cash flow of ₹ 232 crores ( $ 27.6 million ) for the financial yr terminate March 2024 , while growing operating revenues by 33 % to ₹ 7,615 crore ( $ 905.6 million ) . Its adjusted loss fall 97 % from ₹ 1,569 crores to just ₹ 53 crores .
Meesho ’s ontogeny remains quicker than the e - commerce ’s surge in India . India ’s e - commerce industry increase is expected to moderate to 17 % in 2024 before speed to 20 % in 2025 , Bank of America psychoanalyst said this week . This relatively slower maturation is impute to using up lag impact and slow apparel industry growth .
Flipkart ’s marketplace arm grew its revenue by 21 % to $ 2.12 billion in the financial year ending March , it expose in filings this hebdomad . Its red ink fall 41 % to $ 280.4 million .
The Amerindic commerce market place is simultaneously beingreshaped by quick commerce firms in urban city . Blinkit , Zomato ’s quick - commerce arm , has expand the meshing of so - call dark stores — the warehouses where it store the inventory — and increased SKUs from 4 - 5,000 to over 10,000 . The platform has also present novel features , include payment installment options for leverage above ₹ 3,000 ( $ 35.7 ) , 10 - moment counter for wear and footwear , and split shipments to blow up its reach .
prompt - commerce players — let in Blinkit , link - backed Zepto , Prosus - backed Swiggy ’s Instamart , and Tata - owned BigBasket — are projecting to doannual cut-rate sale of about $ 6 billion this class , according to a TechCrunch analysis .
For ground player , the struggle increasingly also looks like about controlling the full wad . Both Amazon and Flipkart now do by about 90 % of their deliveries in - theater , while Meesho has launched its own logistics service called Valmo to optimize transportation costs . Valmo is handling roughly 35 % of all Meesho orders , Bank of America sound out .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
The displacement come as competition for India ’s next hundred million cyberspace shoppers intensifies . Meesho reports that 45 % of its client now come in from tier 4 cities and beyond , with 145 million unequaled annual transacting users — representing approximately 10 % of India ’s universe .
“ We ’re also seeing a hearty influx of unexampled - to - e - commerce users , demonstrate our succeeder in acquiring customer from India ’s underserved markets , ” Meesho tell in a statement . “ This not only highlight the vast potential for vitamin E - commerce in India but also underscores our critical purpose in making e - commerce accessible to realm that have historically been look out on . ”
Bank of America expects around 120 million Modern on-line shoppers to enter the e - commerce market over the 2024 - 27 period , with the base likely to make 380 million . close to 75 % of these young users are expected to come from Tier-2/3 cities , representing a distinct age group of first - sentence online shoppers .
