Meesho is a prominent multi-sided technology platform that has become India’s largest e-commerce marketplace by placed orders and transacting users. It connects four key stakeholders: consumers, sellers, logistics partners, and content creators. Meesho’s core focus is on delivering affordability and accessibility to consumers across India, particularly those outside the major metropolitan areas. This is achieved through an “Everyday Low Prices” strategy, supported by a zero commission model for sellers and low-cost order fulfillment, allowing for a wide assortment of budget-friendly products. The platform leverages AI/ML to provide a personalized, discovery-led shopping experience.

The company generates revenue primarily by offering services to sellers, such as order fulfillment and advertising, rather than charging commissions. This capital-efficient model also supports the launch of New Initiatives, including a low-cost local logistics network and a financial services platform, which further strengthens the ecosystem’s stickiness. As a pure-play marketplace, it does not hold inventory or operate private labels, ensuring a level playing field for its large and growing base of sellers.

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• Scaled Flywheel Ecosystem: The platform is built on self-reinforcing flywheels connecting consumers, sellers, logistics, and content creators.
• AI-Driven Technology Focus: A technology-first approach utilizes AI/ML solutions and a large tech workforce to automate and optimize operations.
• Structural Low-Price Model: Everyday Low Prices are enabled by a zero-commission model and highly efficient, low-cost order fulfillment.
• Capital-Efficient Scalability: The asset-light business model avoids owned inventory/logistics, driving rapid user and order growth with low investment.

• Investment for cloud infrastructure, in MTPL, our Subsidiary (₹ 1390 Cr.)
• Payment of salaries of the existing and replacement hires for the Machine Learning and AI and technology teams for AI and technology development undertaken by MTPL, the Subsidiary (₹ 480 Cr.)
• Investment in MTPL, our Subsidiary, for expenditure towards marketing and brand initiatives (₹ 1020 Cr.)
• Funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes

At the upper band of IPO ₹ 111, the stock is valued at a negative P/E multiple of 35.75. Hence, well-informed investors subscribe for medium to long term perspective.