Paytm founder, another unicorn founder, shares his success

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Paytm founder Vijay Shekhar Sharma praises social e-commerce platform Meesho, which its founder says has become the number one app on the Android Play Store. The founder of the Indian unicorn also claimed that around 5% of Indian Indian households shop using the app every day.

“Wow, 5% of Indian households shop with us EVERY DAY,” tweeted Sharma of Paytm, retweeting the tweet from Meesho founder Vidit Aatrey. Aatrey’s tweet pointed out that around 75% of households are from Tier 2+ cities, attributing it as one of the reasons for getting # 1 on the Play Store.

“Our app is only 12MB in size and compatible with low-end devices and low internet bandwidth, making e-commerce accessible to millions of people. One of the reasons we’re # 1 on the Play Store, ”Aatrey tweeted.

Meesho has raised $ 570 million in new funding led by Fidelity Investments and Facebook co-founder Eduardo Saverin, B Capital, adding to the frenzy of global support for the Indian startup ecosystem. The fundraiser brings the Bangalore-based startup’s valuation to $ 4.9 billion, more than double the level five months ago when SoftBank Group Corp. led a round that valued it at $ 2.1 billion.

The e-commerce startup also recently announced 30-week gender-neutral parental leave and a 10-day company-wide break after a busy holiday season for its employees to reset and recharge.

Based in Bengaluru, Meesho – short for “Meri Shop” was started by Vidit Aatrey and Sanjeev Barnwal with the idea of ​​enabling mom and pop stores to sell online. It serves more than 5 million people and businesses.

In April, Meesho became a unicorn after raising $ 300 million led by Japanese firm SoftBank Group Corp. .

Meesho is a marketplace for long-tail, unbranded products. The Meesho Marketplace offers small businesses, which include SMEs, MSMEs and individual entrepreneurs, a range of benefits. It offers a selection of different categories to its customers and pan-Indian logistics, payment services and customer support capabilities to sellers.

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