I know this might be a one off, but even if they are close to profitable/break even quarters, this can become a strong business
I dont trust a single words come out of the CXO’s mouth in case of startups. All bullshiting and hyping
Seems fake. All account gimmickry. Trust me. If they are EBITA positive, get yourself listed.
That’s what I am also wondering
I think Zomato has also done a similar thing. They deffered the taxes to look profitable this quarter. All startups are doing this to appease investors in the short run and raise some more funding to increase lifespan before they finally shut down
Guess they finally adjusted EBITDA hard enough
Lol. CFO doesn't want to comment on numbers but wants us to beleive they are Ebitda positive. Banao investors ko C***** humko kya.
Genuinely curious. Has anyone used Meesho here? Don't see anyone using it in my 1st circle. A lot of them haven't heard abt it as well. Have read they're big in tier 2&3 cities but those numbers seem off.
They’re totally big in Tier 2/3 cities. I wondered the same until I visited my home-town and realised all my cousins and uncle/auntie’s first preference is Meesho and not Amazon/Flipkart.
My mom used it a lot initially, but stopped doing it because of bad experiences like different colors being sent, damaged products etc
Agar Itni jaldi turnaround possible tha, that too with a huge growth apparently, then they would have done it sooner.
Alternatively, if you are just cooking the books, then any number is achievable. Excel me hi to change karna h. 🤷♂️
I would not be surprised if they cooked the books. Sequoia is on the board of meesho.
It's not really itna jaldi turn around. While a lot has been written about the cash burn, in terms of time period that phase was barely 6-8 months. Through its 8 years of existence Meesho has been quite frugal and has always made money on every order.
They also spent crazy on acquisitions. Unit economics could work, it does for others too, question was how cheaply can you get enough users to transact. It’s a low margin business, gains could only be shown on scale, that too with organic traffic. They are claiming pat, even accounting for esops.
If they are indeed profitable, that means the marketing spend is low, and yet people are buying from meesho. High retention/stickiness is something ecom could kill for. Either the number of orders really sunk that they serviced from last month’s inventory (cost of revenue tending to zero), or it’s a out performing company that somehow still can’t find anyone to invest in for a year, despite the great numbers, high repeat, and organic sales. All things any vc would kill for in this market.
This is true. No accounting gimmick. Profitability at PAT level after all costs etc. Truly industry first.
While I'm proud of these two revolutionising the quick commerce space, I somehow have a bad feeling about this
Profits aren't coming, money is flowing Don't know what the VCs are seeking? Why bake a a pie that you can't eat later?
Silent founders operating from GCC 😊
In current climate, great to see they’re able to raise! Folks at Meesho, some questions:
𝟏. 𝐌𝐨𝐧𝐞𝐭𝐢𝐬𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐣𝐢𝐠 𝐚𝐭 𝐌𝐞𝐞𝐬𝐡𝐨; 𝐝𝐨𝐮𝐛𝐥𝐞 𝐝𝐨𝐰𝐧𝐬 𝐨𝐧 𝐬𝐞𝐥𝐥𝐞𝐫 𝐥𝐨𝐚𝐧𝐬
Meesho is evolving its business model beyond its initial focus on providing a low-cost, commission-free marketplace. The i...