Homegrown social commerce firm Meesho has reportedly shut down its grocery enterprise in India. Known as Superstore, the service has been closed in additional than 90 per cent of cities in India (besides Nagpur and Mysuru), leading to a number of job losses.
In keeping with an Inc42 report, almost 300 Meesho workers have misplaced jobs after the shuttering of Meesho Superstore.
The corporate has not commented on the event but.
In April, Meesho rebranded Farmiso to Superstore, with an intention to spotlight its continued focus to meet shopper demand for each day necessities in Tier 2 markets and past.
The identical month, the corporate laid off greater than 150 workers, largely from Farmiso, because it aimed to combine its grocery enterprise inside the core software.
The social commerce platform earlier laid off greater than 200 workers within the first wave of the pandemic.
In keeping with the Inc42 report, “low income and a excessive money burn was the explanation behind the startup’s determination to wind up operations in a lot of the cities” this time.
Meesho Superstore was operational in six states — Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh, and Maharashtra.
The report talked about that Meesho provided a two-month wage as a severance bundle to these laid off.
Vidit Aatrey, Founder and CEO, Meesho, had mentioned that the corporate appears to be like ahead to integrating Meesho Superstore with its core app.
“What began as a pilot in Karnataka is now seeing constructive traction throughout six states. Pushed by our user-first mindset, the mixing will present thousands and thousands of Meesho customers a unified buying expertise, whereas giving us a chance to drive stronger synergies throughout areas reminiscent of buyer acquisition, expertise and product and expertise,” he had mentioned in an announcement.
Meesho launched a pilot in Karnataka to make on-line grocery buying inexpensive, and the corporate aimed to make Superstore obtainable in 12 states by the tip of 2022.
The Meesho market offers small companies, which incorporates small and medium companies (SMBs), micro, small and medium enterprises (MSMEs) and particular person entrepreneurs, entry to thousands and thousands of consumers, from over 700 classes, pan-India logistics, cost companies and buyer help capabilities.
Meesho not too long ago reached 100 million transacting customers. Since March 2021, the transacting consumer base on the platform has surged 5.5 occasions whereas the assortment has grown 9X to 72 million throughout the identical interval, claimed the corporate.
(With inputs from IANS)
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