Facebook is buying a stake in Indian e-commerce start-up Meesho, the head of the...
FILE PHOTO: India's flag seen through a 3D printed Facebook logo in this illustration picture, April 8, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
Meesho, a digital platform on which re-sellers of everything from jewelry to mobile phones reach prospective customers via social media platforms such as Facebook, WhatsApp and Instagram, already has about 2 million entrepreneurs focused on India’s smaller towns and cities, the vice-president and managing director at Facebook India told Reuters.He declined to disclose the value of Facebook’s investment in Meesho or the size of the stake it is acquiring.
Meesho, founded by two engineering graduates in 2015, has raised more than $65 million in funding and counts Shunwei Capital and DST Partners among its backers.
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