Core Insights - Meesho, an Indian e-commerce platform, is launching a $606 million IPO, reflecting investor confidence in India's online retail market despite global tech shareholder sell-offs [1] - The company aims to raise ₹42.50 billion (approximately $475 million) through the IPO, with a post-issue valuation of around ₹501 billion (about $5.60 billion) [2][4] - Meesho is the first major horizontal e-commerce platform in India to go public, with competitors like Flipkart and Amazon also considering IPOs [3] Company Overview - Founded in 2015, Meesho started as a social commerce platform and has evolved into a full-fledged marketplace, targeting price-sensitive consumers and small merchants [6] - The company operates on a commission-light model, primarily earning from logistics fees, advertising, and services, while charging commissions on products sold through its Meesho Mall channel [6] Financial Performance - For the six months ending September 30, Meesho reported revenue from operations of ₹55.78 billion (approximately $624 million), up from ₹43.11 billion (around $482 million) the previous year [7] - The net merchandise value increased by 44% year-over-year to ₹191.94 billion (roughly $2.15 billion), but the company also reported a widened loss before tax of ₹4.33 billion (around $48.4 million) [7] User and Seller Metrics - In the last 12 months, Meesho recorded 234.20 million transacting users and had 706,471 annual transacting sellers [8] - The platform utilizes a network of over 50,000 active content creators for product discovery [8] Market Positioning - Meesho positions itself as a value-focused platform, contrasting with convenience-led competitors like Amazon and Flipkart [10] - The company aims to appeal to mass market consumers by offering a wide selection of affordable products [11] IPO Details - The IPO will open for public subscription on December 3, with 75% of the offer reserved for qualified institutional buyers, 10% for retail investors, and 15% for non-institutional investors [12]