In accordance with a supply aware of the matter, Google is in talks to take a position greater than $50 million in Indian social commerce startup Meesho, which not too long ago secured $570 million in a financing spherical.

In accordance with one other particular person aware of the matter, the Android-maker, which has backed over half a dozen startups in India, is but to spend money on Meesho.

Meesho – which counts Fb, B Capital, SoftBank, Sequoia Capital India, Y Combinator and Elevation Capital amongst its early traders – operates a three-way market that connects suppliers (producers and distributors) with prospects on social media platforms similar to WhatsApp. ) and connects resellers. , Fb and Instagram. Resellers purchase listed merchandise from suppliers and make a fee on every transaction once they promote them to prospects.

About 80% of the resellers on the platform are girls. The startup has since inception aimed to assist girls to start out their very own enterprise with none capital requirement. The startup, which was hit by the pandemic final 12 months like many different e-commerce companies, has made a full restoration and achieved an all-time peak progress in current months.

Meesho’s current fast progress into India’s largest e-commerce agency Flipkart has been the topic of many critical discussions, in keeping with two individuals working on the agency’s not too long ago launched social commerce effort.

As of April this 12 months, 13 million entrepreneurs and over 100,000 suppliers have been utilizing Meesho, the startup’s founder Vidit Atre advised TechCrunch in an interview final month, including that the startup had “grown 3x.”

At stake is the world’s second largest web market, the place e-commerce has hardly made a dent within the total retail sector. Bernstein analysts mentioned final month that the social commerce market is anticipated to be valued at $1 billion by 2025 to $1.5 billion by 2025.

“Social commerce has the potential to empower over 40 million small entrepreneurs throughout India. Right now, 85% of sellers utilizing social commerce are small, offline-oriented retailers who use social channels to open up new alternatives for progress,” he wrote.

Google, which has dedicated to take a position $10 billion in 1India over the following few years, has additionally backed Indian startups Look and DailyHunt. YouTube had acquired social commerce startup SimSim in July this 12 months. Earlier this month, the agency backed Bangalore-based neobanking startup Open.

Google didn’t reply to a request for touch upon Thursday.



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