In the realm of e-commerce and social commerce, one name has emerged as a game-changer for aspiring entrepreneurs in India – Meesho. At the helm of this transformative platform are the dynamic founders, Vidit Atrey and Sanjeev Bharnwal. With their visionary leadership and relentless pursuit of empowering individuals, they have revolutionized the way people do business in the digital era.
Inception of Meesho:
Vidit Atrey and Sanjeev Bharnwal, both alumni of IIT Delhi, founded Meesho in 2015 with a vision to enable anyone to start their own online business. They recognized the vast untapped potential of social networks as a powerful tool for entrepreneurship. With Meesho, they aimed to bridge the gap between manufacturers, suppliers, and end consumers by leveraging the power of social commerce.
Pioneering Social Commerce in India:
Vidit and Sanjeev’s foresight led them to create a platform that leverages social media networks to connect sellers with potential buyers. Meesho provides a simple yet robust ecosystem where individuals can set up their online stores, curate products, and market them through various social channels. This innovative approach has democratized the e-commerce landscape, enabling millions of aspiring entrepreneurs, especially women, to leverage their social connections and kickstart their businesses.
In April, Meesho, a startup founded in 2015 by Sanjeev Barnwal and Vidit Aatrey, witnessed a significant increase in its valuation, reaching nearly $2.1 billion. However, this growth was just the beginning, as by the end of September, the company’s valuation had doubled to an impressive $4.9 billion.
Both Sanjeev Barnwal and Vidit Aatrey share a common background as former classmates at the prestigious Indian Institute of Technology in New Delhi. Drawing upon their knowledge and expertise, they created Meesho as a platform that connects small manufacturers and distributors with consumers, focusing on fashion, lifestyle products, small electronics, sporting goods, and other items from lesser-known or unbranded producers.
Meesho has set ambitious goals for itself, aiming to reach a staggering 100 million monthly transacting users by December 2022. This target represents a seven-fold increase from its current user base of 15 million. The company started its journey as a reselling platform specifically designed for women entrepreneurs, empowering them to establish their businesses and generate income.
Enabling Entrepreneurship and Empowering Women:
One of the key driving forces behind Meesho’s success lies in its commitment to empowering women entrepreneurs. Recognizing the immense potential and untapped talent among homemakers and women in smaller towns, Vidit and Sanjeev designed Meesho to be user-friendly, flexible, and accessible. By providing training, mentorship, and a hassle-free selling experience, Meesho has empowered countless women to become financially independent and realize their entrepreneurial dreams.
Driving Social Impact and Financial Inclusion:
Vidit Atrey and Sanjeev Bharnwal have not only built a thriving business but have also remained steadfast in their commitment to creating positive social change. Meesho has played a pivotal role in driving financial inclusion by enabling micro-entrepreneurship. The platform has opened up opportunities for individuals from diverse socio-economic backgrounds, including those in rural areas, to participate in India’s digital economy and uplift their livelihoods.
Sanjeev Barnwal, CTO
Sanjeev Barnwal, co-founder, and CTO of Meesho, embarked on a remarkable journey after completing his education at IIT. He ventured to Japan, where he became a part of Sony’s Core Tech Team, finding fulfillment and acquiring invaluable knowledge. However, an underlying desire to establish his own business persisted within him. In pursuit of this, he reached out to his friend Vidit Aatrey, who was working at the InMobi startup in Bangalore at the time. Sanjeev inquired about a potential position at InMobi, but Vidit proposed an alternative: starting their own startup. After pondering the idea for about a month, they decided to embark on their entrepreneurial journey.
In June 2015, both Sanjeev and Vidit returned to India, having resigned from their respective positions, although the startup’s concept had yet to be finalized. Initially envisioning a fashion marketplace, they aimed to create a platform that prioritized businesses’ success. Meesho was born in late 2015, operating from a modest two-bedroom flat in Bengaluru’s Koramangala neighborhood, with the dining table serving as their first workstation. Sanjeev Barnwal’s net worth is reported to be around $2.1 billion or even higher, a testament to his entrepreneurial accomplishments.
Achievements
Vidit Atrey has received numerous accolades and honors throughout his career. He was recognized in the Economic Times 40 Under 40 list in both April 2021 and in previous years. Additionally, he was listed in the prestigious Fortune 40 Under 40 in January 2021. Vidit has been associated with Meesho, a prominent company in the industry. He was acknowledged as one of the World’s 50 Most Innovative Companies by Fast Company in January 2020. Vidit’s exceptional entrepreneurial skills were honored when he received the Young Turk Startup of the Year award by CNBC in January 2020, presented by Finance Minister Smt. Nirmala Sitharaman. In 2019, he was recognized in the Entrepreneur 35 Under 35 list. Furthermore, his remarkable achievements led him to be included in Forbes 30 Under 30 lists for both Asia in 2018 and India in previous years.
Vidit Atrey and Sanjeev Bharnwal’s relentless pursuit of empowering individuals through social commerce has made Meesho a beacon of hope for aspiring entrepreneurs in India. By leveraging the power of technology, social networks, and community-building, they have transformed the lives of millions, particularly women, by providing them with a platform to succeed in the e-commerce space.
