In April, Meesho rebranded Farmiso to Superstore, with an purpose to emphasize its ongoing emphasis to satisfy buyer need for everyday essentials in Tier 2 markets and beyond.
Homegrown social commerce platform Meesho has reportedly shut down its grocery business identified as Superstore in extra than 90% of metropolitan areas in India (other than Nagpur and Mysuru), ensuing in a number of position losses.
In accordance to an Inc42 report, practically 300 employees have dropped work following the shuttering of Meesho Superstore.
When attained, the corporation did not remark on the improvement.
In April, Meesho rebranded Farmiso to Superstore, with an aim to highlight its continued focus to satisfy buyer need for everyday necessities in Tier 2 markets and past.
The exact thirty day period, the organization laid off a lot more than 150 workers, typically from Farmiso, as it aimed to integrate its grocery business inside of the core application.
The social commerce system earlier laid off more than 200 workers in the initially wave of the pandemic.
In accordance to the Inc42 report, “small income and a high funds burn up was the reason behind the startup’s determination to wind up functions in most of the cities” this time.
Meesho Superstore was operational in 6 states – Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh, and Maharashtra.
The report mentioned that Meesho supplied a two-month wage as a severance package to people laid off.
Vidit Aatrey, founder and chief government officer, Meesho, experienced said the business looks ahead to integrating Meesho Superstore with its main application.
“What began as a pilot in Karnataka is now viewing optimistic traction throughout six states. Pushed by our user-very first attitude, the integration will deliver tens of millions of Meesho people a unified buying expertise, while giving us an possibility to travel more robust synergies throughout areas this kind of as buyer acquisition, technology and merchandise and talent,” he had reported in a statement.
Meesho launched a pilot in Karnataka to make online grocery searching reasonably priced, and the business aimed to make Superstore available in 12 states by the close of 2022.
The Meesho market provides modest corporations, which includes compact and medium organizations (SMBs), micro, little and medium enterprises (MSMEs) and person business people, obtain to thousands and thousands of shoppers, from above 700 groups, pan-India logistics, payment products and services and consumer guidance abilities.
Meesho a short while ago reached 100 million transacting people. Since March 2021, the transacting consumer foundation on the platform has surged 5.5 occasions although the assortment has developed none moments to 72 million in the course of the similar time period, claimed the startup.