Bengaluru’s social trading startup based in Bengaluru has placed around 150 employees from the grocery arm, which integrates his vertical vertical in the core application and suggests it to Meesho Superstore last week.
The e-commerce company supported by Softbank in a blog post said, “When we look to improve the efficiency in the light of integration, a small number of full-time roles and certain third-party positions on a six-month contract at Meesho Superstore are rated again to remove redundancies with the core business.”
“To support those affected by this restructuring, Meesho offers the severance package and outmacement assistance to help them secure new opportunities outside the company. Redudans do not affect any position in the business of Meesho Marketplace Core, where we continue to rent and grow talent,” added Blog post.
The company expects to complete wholesale business integration in the first week of May.
“Integration will now provide 100 million users + MeeSho companies access more than 87 million active product listings in 36+ categories on one platform.”
MeeSho launched a pilot in Karnataka to make an affordable online grocery shopping for the first user. In less than 9 months, he has scaled his grown bid into 6 states – Karnataka, Maharashtra, Telangana, Andhra Pradesh, Gujarat, and Madhya Pradesh.
This year, a number of startups including Unacademy, Furlenco, Trell, Okcredit and Lido have put employees.
Founded by graduates IIT Delhi Vidit Aatrey and Sanjeev Barnwal in December 2015, Meesho began as a social trading platform. This business model usually has a three-sided market – supplier, retailers, and end customers, where resellers buy products from suppliers and sell them through a platform like WhatsApp.
While Meesho began with encouragement in social trade, the share of direct sales had risen, he followed against players like Flipkart and Amazon. Now it comes from 75 percent of its business directly from customers who come on their platforms, while 25 percent come from resellers.