Paytm's Founder Vijay Shekhar Sharma Commends Meesho's Profitability Milestone and Congratulates CEO Vidit Aatrey for Crafting a Tale of Success

Indigenous Affordable E-Commerce Platform Meesho Achieves Profitability Milestone in July

Paytm's Founder Vijay Shekhar Sharma Commends Meesho's Profitability Milestone and Congratulates CEO Vidit Aatrey for Crafting a Tale of Success
Meesho Achieves Profitability Milestone in July

Meesho's Co-Founders, Vidit Aatrey and Sanjeev Barnwal, proudly announced a significant achievement on Tuesday as their homegrown e-commerce venture turned profitable last month. Taking to social media, the duo expressed their heartfelt gratitude to the dedicated team of Meeshoites who passionately worked towards transforming this aspiration into reality. A jubilant Aatrey tweeted, "We've made it!" while Barnwal echoed the sentiment of a remarkable journey and an even brighter future. Notably, Meesho has also emerged as India's first horizontally-integrated e-commerce company to attain profitability, a feat that Barnwal attributed to the unwavering trust of their valued sellers and customers.

Vijay Shekhar Sharma, the visionary behind Paytm and a staunch supporter of the Indian startup ecosystem, took a moment from his busy schedule to extend his congratulations to Meesho for this remarkable accomplishment. In his praise, he lauded both the leadership and the entire workforce, highlighting Meesho as a shining example of how a motivated and cohesive team can translate dedication into extraordinary success.

Backed by Softbank, the e-commerce enterprise witnessed a substantial surge in order volumes and revenue, a pivotal turning point that led to their newfound profitability. Aatrey explained that a remarkable 43 percent increase in order volumes and an impressive 54 percent rise in revenue over the past year were instrumental in steering the company toward this achievement. Further elaborating, he revealed that an impressive 85 percent of orders were generated by returning users within the same time frame, showcasing the platform's exceptional customer retention rate.

While specific financial figures were not disclosed, Aatrey affirmed that Meesho had achieved profitability at a consolidated Profit After Tax (PAT) level, encompassing all associated costs, including Employee Stock Ownership Plans (ESOP), across all operational segments and product categories.

Highlighting Meesho's continued dominance, Aatrey pointed out that the platform maintained its position as the most downloaded shopping app in India, serving over 140 million unique transacting users in the past year alone. The company's current momentum is showcased by an impressive daily order rate of 3.5 million, a testament to Meesho's position as an industry leader. Aatrey attributed this remarkable efficiency to the innovative and asset-light nature of Meesho's business model, a structural advantage that sets the company apart on its path of continued success.

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