In April, Meesho rebranded Farmiso to Superstore, with an goal to focus on its continued focus to satisfy shopper demand for every day necessities in Tier 2 markets and past.
Homegrown social commerce platform Meesho has reportedly shut down its grocery business known as Superstore in additional than 90% of cities in India (besides Nagpur and Mysuru), leading to a number of job losses.
In response to an Inc42 report, practically 300 staff have misplaced jobs after the shuttering of Meesho Superstore.
When reached, the corporate didn’t touch upon the event.
In April, Meesho rebranded Farmiso to Superstore, with an goal to focus on its continued focus to satisfy shopper demand for every day necessities in Tier 2 markets and past.
The identical month, the corporate laid off greater than 150 staff, principally from Farmiso, because it aimed to combine its grocery enterprise throughout the core software.
The social commerce platform earlier laid off greater than 200 staff within the first wave of the pandemic.
In response to the Inc42 report, “low income and a excessive money burn was the rationale behind the startup’s determination to wind up operations in many of the cities” this time.
Meesho Superstore was operational in six states – Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh, and Maharashtra.
The report talked about that Meesho provided a two-month wage as a severance package deal to these laid off.
Vidit Aatrey, founder and chief government officer, Meesho, had mentioned the corporate seems ahead to integrating Meesho Superstore with its core app.
“What began as a pilot in Karnataka is now seeing constructive traction throughout six states. Pushed by our user-first mindset, the combination will present hundreds of thousands of Meesho customers a unified procuring expertise, whereas giving us a possibility to drive stronger synergies throughout areas akin to buyer acquisition, expertise and product and expertise,” he had mentioned in a press release.
Meesho launched a pilot in Karnataka to make on-line grocery procuring reasonably priced, and the corporate aimed to make Superstore obtainable in 12 states by the top of 2022.
The Meesho market supplies small companies, which incorporates small and medium companies (SMBs), micro, small and medium enterprises (MSMEs) and particular person entrepreneurs, entry to hundreds of thousands of consumers, from over 700 classes, pan-India logistics, cost providers and buyer assist capabilities.
Meesho just lately reached 100 million transacting customers. Since March 2021, the transacting consumer base on the platform has surged 5.5 occasions whereas the assortment has grown none occasions to 72 million throughout the identical interval, claimed the startup.
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