India e-commerce startup Meesho eyes possible IPO next year

Chief financial officer says company turned profitable sooner than expected

Courting big brands has helped Indian e-commerce startup Meesho turn profitable sooner than expected, says Chief Financial Officer Dhiresh Bansal. © Reuters

SAYAN CHAKRABORTY, Nikkei staff writer

August 17, 2023 12:10 JST

BENGALURU -- Meesho, an Indian e-commerce startup, could launch an initial public offer next year, a top executive told Nikkei Asia, after a surge in revenues and cost cuts took the SoftBank-backed company to its first ever profit in July.

Chief Financial Officer Dhiresh Bansal said Meesho will focus on staying in the black in coming quarters, which is crucial to making it an attractive stock for investors. Meesho clocked revenues of $400 million between January and June, 40% more than the corresponding period last year.