Meesho's FY24: Revenue Soars to $900M, Losses Plunge 95%

• Meesho's FY24 revenue surged 33% to $905 million, driven by increased active users and higher order frequency.
• The company reported a 97% drop in adjusted net losses to $6.3 million, attributed to logistics efficiencies and AI adoption.
• Meesho saw over 145 million unique transacting users for the year, with orders climbing 36% to reach 843 million shipments.
• The company generates revenue through advertisements, facilitating deliveries, and operating its own logistics arm, Valmo.
• Meesho is preparing for an IPO, appointing four independent board directors with extensive experience in financial services and technology.

Source: The Arc