Meesho Plans to Go Public in 2024

Meesho, a homegrown e-commerce platform, is preparing to launch its public offering later this year, with aspirations to secure approximately $1 billion through an IPO, as reported by Moneycontrol. This SoftBank-backed entity aims to achieve a valuation of $10 billion while potentially collaborating with JP Morgan as part of the IPO syndicate.

According to the sources, Meesho intends to submit draft documents in the near future and anticipates a listing during the festive season around Diwali, between September and October 2024.

Meesho’s Market Position and Growth

Ranked as the third-largest horizontal e-commerce platform in India, following Flipkart and Amazon, Meesho boasts an impressive 14.5 crore unique annual transacting users. From January to December 2024, the company, led by Vidit Aatrey, experienced a remarkable threefold increase in order volume driven by content commerce initiatives. Furthermore, Meesho has established partnerships with over 21,000 creators, enhancing its marketplace.

Valuation Insights and Revenue Growth

Earlier this year, media coverage indicated that Meesho concluded a secondary transaction at a valuation ranging from $3.9 billion to $4 billion, reflecting a 20% decrease from its previous valuation of $4.9 billion. Additionally, various reports highlight that Meesho achieved a year-on-year growth of 33% in operating revenue during FY24, reaching Rs 7,615 crore, compared to Rs 5,735 crore in FY23.