The duo, IITians, founded the reseller-focused platform Meesho and pioneered social commerce.
Vidit Aatrey and Sanjeev Barnwal, are two friends who have attained great success through hard work, perseverance, and dedication. Vidit Aatrey and Sanjeev Barnwal, classmates at IIT Delhi, founded Meesho, a social commerce platform that has become a game-changer in the e-commerce industry.
After graduating from IIT, Sanjeev Barnwal, co-founder and CTO of Meesho, set out on an incredible adventure. He travelled to Japan, where he joined Sony's Core Tech Team, where he found happiness and learned priceless lessons. Still, he had an underlying yearning to start his own company. He contacted his friend Vidit Aatrey, who was then employed by the Bangalore-based InMobi firm, in an attempt to accomplish this.
Sanjeev and Vidit left their respective jobs in June 2015, while the concept for a startup was still being worked out. When they first envisioned a fashion marketplace, their goal was to develop a platform that gave businesses' success top priority. Meesho began operations in late 2015 out of a small two-bedroom flat in the Koramangala neighbourhood of Bengaluru. Their first workspace was the dining table. According to reports, Sanjeev Barnwal is worth $2.1 billion or more, which is impressive given his track record as an entrepreneur.
To help merchants in making more effective use of social media for sales, Aatrey and Barnwal launched Meesho in 2015 after realising the limitations of Facebook and WhatsApp for commerce. Meesho applies a unique business strategy in which "resellers," primarily housewives, market and sell goods inside their social network, and "sellers" construct a marketplace on the app. To finish deals, they use WhatsApp to communicate with clients, connect their Facebook sites to Meesho, and deliver payment links via the messaging app. Meesho handles delivery and makes money by charging sellers a commission.
Meesho, a firm created in 2015 by Sanjeev Barnwal and Vidit Aatrey, saw a notable rise in valuation in April, coming in close to $2.1 billion. But by the end of September, the company's worth had doubled to an astounding $4.9 billion, signalling that this expansion was just the beginning.
Meesho has set ambitious goals for itself, hoping to surpass a remarkable 100 million monthly users that transact by December 2022. With 15 million users as of right now, this aim is a seven-fold growth. The firm began as a reselling platform made especially for female entrepreneurs, enabling them to launch their companies and make money.
The founder and CEO, Vidit Aatrey, clarified that "Meesho" stands for "Meri Shop" or "apni dukaan." With no initial investment needed, the social commerce platform has assisted over 13 million entrepreneurs—the bulk of whom are female—in launching their own internet companies. Meesho has developed into a potent instrument for women's empowerment in India, allowing them to become financially independent and boost the nation's economy. Meesho's success story is an inspiration to millions of entrepreneurs worldwide, demonstrating the strength of ingenuity and tenacity.
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