Almost 20 employees of Meesho have sold 30% of their stock worth $1 million to it’s largest investor Naspers.
Meesho is an online reseller network comprised of individuals, and small and medium businesses (SMB). The sellers can sell their products network of contacts and followers on social media platforms such as WhatsApp, Facebook and Instagram. The company has around 820 employees.
Just for info, Meesho increased its losses from INR 5 Cr - INR 100 Cr FY'19, losses were attributed to staff salaries, logistics, marketing & reseller bonus programs, discounts, rewards, referrals and other reimbursements & at the same time it also managed to increase its revenue to INR 84 Cr from INR 5 Cr