Facebook India on Thursday said it has invested in a social commerce start-up, Meesho, which connects buyers and sellers on social media platforms. The investment comes at a time when the US-based tech major is exploring avenues to monetise applications like WhatsApp and services like Marketplace, which was launched last year.
“This is Facebook’s first investment in an India-based start-up, and is a strong demonstration of the company’s commitment to the country’s vibrant internet ecosystem,” Facebook said, adding that Meesho is a platform that enables Indian entrepreneurs to establish online businesses through social channels. The Bengaluru-based start-up provides small and independent entrepreneurs with products and tools to start, maintain and grow their businesses.
It offers a three-way marketplace enabling re-sellers, SMBs and micro-entrepreneurs across India to connect with potential buyers using social media. A majority of these entrepreneurs are women, it added. Facebook’s investment will aid Meesho to expand its efforts in enabling independent entrepreneurs to build businesses and grow their customer base through social channels.