E-commerce unicorn Meesho has made a huge jump in order volume, with 1.3 billion orders for the period April-December 2024, a 34% year-on-year increase. This gigantic figure is equal to Meesho's order volume for the previous fiscal year, as visible from Meesho's FY24 annual report published today.
The company's expansion is led by categories such as kitchen and home, beauty and personal care, and baby and child care. Meesho's in-house logistics arm, Valmo, delivers over 50% of orders every day, reaching 15,000 pin codes and creating 85,000 employment opportunities.
As of December 31, 2024, Meesho had 187 million unique annual transacting users, a 26% increase from last year. Meesho has also significantly enhanced profitability, reducing its adjusted losses by 97% to Rs 53 crore in FY24 and reaching operating cash flow positivity.
Meesho's robust performance precedes the company gearing up for its subsequent initial public offering (IPO), where it is looking to raise about $1 billion at a $10 billion valuation later this year.
Source: The Economic Times