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Meesho, a social commerce platform that allows users to sell products on social media, has raised $570 million in a funding round led by Fidelity Management and B Capital Group. The round also saw the participation of existing investors Prosus Ventures, SoftBank Vision Fund 2, and Facebook. This brings Meesho's total funding to over $1 billion.

Social commerce is a type of e-commerce that takes place on social media platforms. Users can browse products, make purchases, and interact with sellers directly on social media. Social commerce is a growing trend, especially in developing countries like India.

There are a few reasons why social commerce is growing. First, social media is becoming more popular. In India, for example, over 400 million people use social media. This means that there is a large pool of potential customers for social commerce businesses.

Second, social media makes it easy for people to discover new products. When people see their friends and family talking about products on social media, they are more likely to be interested in buying those products.

Third, social commerce is convenient. People can shop on social media from anywhere, at any time. This makes it easy for people to buy products when they need them.

Meesho was founded in 2015 by Vidit Aatrey and Sanjeev Barnwal. The company's mission is to "democratize e-commerce for the masses." Meesho's platform makes it easy for anyone to start a business selling products on social media.

Meesho has seen rapid growth in recent years. The company's GMV (gross merchandise volume) grew by 270% in 2021, and it now has over 100 million users. Meesho is particularly popular in Tier 2 and Tier 3 cities in India, where it has helped to democratize e-commerce.

Meesho plans to use the funding to expand its product offerings, invest in marketing, and hire more talent. The company is also planning to expand into new markets, including Southeast Asia and Latin America.

The growth of social commerce is a major trend in the e-commerce industry. Meesho is one of the leading players in this space, and its latest funding round is a sign of its strong growth potential. I am excited to see what Meesho does next.

Here are some additional details about Meesho:

  • The company's headquarters are in Bangalore, India.
  • Meesho has over 100 million users in India.
  • The company's platform is available in 10 languages.
  • Meesho has partnered with over 1 million sellers.
  • The company's products range from clothing and accessories to home goods and electronics.

Social commerce is a growing trend, and Meesho is one of the leading players in the space. The company's latest funding round is a sign of its strong growth potential. I am excited to see what Meesho does next.

Here are some additional thoughts on the growth of social commerce:

  • Social commerce is a more convenient way to shop. People can browse products and make purchases from anywhere, at any time.
  • Social commerce is a more social way to shop. People can discover new products from their friends and family, and they can interact with sellers directly on social media.
  • Social commerce is a more affordable way to shop. People can often find great deals on products on social media.

I believe that social commerce is the future of e-commerce. It is a more convenient, social, and affordable way to shop. I am excited to see how Meesho and other social commerce platforms continue to grow in the years to come.