In keeping with media reviews on Friday (October 22), search engine large Google and social commerce firm Meesho East are exploring particulars of a attainable $50 million to $75 million funding.

Google’s funding is a part of Meesho’s newest fundraising spherical and will propel the Bengaluru-based India firm to a valuation of $4.9 billion.

Google’s funding is a part of its pledge to speculate $10 billion in India. The corporate has additionally invested in Indian startups like Dailyhunt, Look and others.

Meesho turned a unicorn — a non-public firm valued at greater than $1 billion — in April when it raised $300 million in a fundraising spherical led by SoftBank Group that raised its worth to $2.1 billion, 2019 After $125 million in funding efforts above a valuation of $700 million.

The corporate has positioned orders from over 100,000 registered suppliers to over 26,000 prospects in over 4,800 cities, producing over 500 million (roughly $77.5 million) for particular person entrepreneurs.

Meesho added over 100,000 sellers by way of initiatives together with free promoting credit and nil return delivery expenses. It at present has 250,000 sellers on its platform. The corporate, which not too long ago launched an eCommerce platform, additionally switched to a 0% fee mannequin to draw extra sellers.

The corporate is specializing in rising its grocery section, referred to as Farmiso, by way of an internet providing that’s anticipated to roll out in over 200 cities throughout India.

associated: Snapchat says social commerce depends on augmented actuality

Social commerce throughout the US is predicted to exceed $36 billion this 12 months, accounting for under one-tenth of the estimated social commerce gross sales in China. Greater than 14% of retail eCommerce gross sales in China come from social channels, in comparison with about 5% within the US.

New PYMNTS survey finds 3 out of 4 customers who’ve excessive demand for tremendous apps
about: Findings from the brand new PYMNTS research, “The Tremendous App Shift: How Customers Wish to Save, Store and Spend within the Linked Economic system,” analyzed responses from 9,904 customers in Australia, Germany, the UK and the US. and confirmed sturdy demand for single multi-functional tremendous apps as a substitute of utilizing dozens of people.

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