Indian e-commerce startup Meesho posts first-ever profit, plans IPO in 12-18 months

Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview.

Meesho competes with Amazon and Walmart’s Flipkart in India’s fast-growing e-commerce market, with its website becoming popular by targeting smaller towns and cities with unbranded products like clothes and cosmetics. It was last valued at nearly $7 billion, PitchBook data shows.

After posting losses since inception in 2015, Meesho, which is backed by Japan’s SoftBank, recorded profits for the first time last month, it said in a statement.