CosmicTaco

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

CosmicTaco · 2024-11-03T10:46:45.182947+05:30

- 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](https://thearcweb.com/article/meeshos-fy24-revenue-crosses-900-mn-losses-fall-95-to-6-mn-gzMNXktA807h8tmB)

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

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