Facebook to invest in Meesho, a start-up for online biz
This is Facebook's first investment in an Indian start-up
Facebook has announced an investment in Meesho, a platform for Indian entrepreneurs to establish online businesses via social channels. This is Facebook's first investment in an India-based start-up and demonstrates the company's commitment to the country's internet ecosystem.
Ajit Mohan, Vice President and Managing Director, Facebook India said: “Facebook is an ally for India's economic growth and social development. We are excited about India and its rapidly rising Internet ecosystem. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India. We love that the company is translating the power of online communities to expand economic opportunity for all of India, and especially women.”
Vidit Aatrey, Co-Founder, Meesho, said: “It's been an amazing journey for the Meesho team and we cannot wait to do more as we work towards our goal of building a bigger community and enabling millions of entrepreneurs to be successful. Over the last four years we have grown from our humble beginnings at IIT to 15,000 suppliers and 2,000,000 resellers throughout India. We share a common goal with Facebook - to enable community and help small businesses grow. This commitment from Facebook will help us leapfrog towards our goal.”
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