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The company announced on LinkedIn that from 26th October 26 to November 3rd, employees will enjoy a fully paid nine-day leave

Meesho Gives Employees a 9-Day Break! No Work, Just Chill!

The company announced on LinkedIn that from 26th October 26 to November 3rd, employees will enjoy a fully paid nine-day leave

Who needs a weekend when you can have a whole 9-day break? Yes, you heard us right!
Online shopping platform, Meesho is giving their employees the ultimate 'rest and recharge' pass!
The company announced on LinkedIn that from 26th October 26 to November 3rd, employees will enjoy a fully paid nine-day leave.
Meesho announced, and I quote, "No work&mdash;no laptops, no Slack messages, no emails, no meetings&mdash;just time to reset.
"We're heading into our 4th consecutive company-wide "Reset and Recharge" break from October 26th to November 3rd. After the efforts put into this year and our successful Mega Blockbuster Sale, it's time to fully unplug and focus on ourselves. This break is for us to recharge our minds and bodies for a fresh and energized start to the year ahead," the post added.
Meesho's initiative received huge applause from social media users who called it a great way to inspire and motivate employees to work well.&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/cybercab-elon-musk-unveils-tesla-s-fully-autonomous-robotaxi-1728632101529">Cybercab: Elon Musk Unveils Tesla&rsquo;s Fully Autonomous Robotaxi</a>

Meesho has set its sights on esteemed institutions like the Indian Institutes of Technology (IITs) situated in Bombay, Kharagpur, Kanpur, Madras, Roorkee, and BHU as part of its targeted campuses this year.

Meesho resumes campus recruitment, aims to hire 150 students from top institutes

Meesho has set its sights on esteemed institutions like the Indian Institutes of Technology (IITs) situated in Bombay, Kharagpur, Kanpur, Madras, Roorkee, and BHU as part of its targeted campuses this year.

E-commerce giant Meesho has made a comeback to college campuses after a hiatus of one year from the recruitment scene. After opting out of campus placements in 2022 to concentrate on fortifying profitability, the company is geared up to recruit over 150 talented students from the class of 2024 across several premier institutions, reported ET.
Chief Human Resources Officer, Ashish Kumar Singh, revealed, "Meesho had temporarily suspended campus hiring in 2022, prioritizing sustainable growth. Our primary objective was to attain profitability without expanding the workforce extensively" to ET.
The company aims to fill diverse roles encompassing technology, product development, analytics, business, fulfillment, consumer experience, finance, growth, and human resources. Notably, Meesho highlighted that non-technical positions such as strategy and operations are commanding more competitive salary packages compared to the previous year.
Meesho's roster of targeted campuses this year includes top-tier institutes such as the Indian Institutes of Technology (IITs) in Bombay, Kharagpur, Kanpur, Madras, Roorkee, and BHU. Additionally, they are engaging with the Indian Institute of Science (IISC), Indian Institute of Information Technology (IIIT) Allahabad, BITS Pilani, Indian Institutes of Management (IIMs) Lucknow and Kozhikode, and National Institutes of Technology in Delhi, Bhopal, Surat, and Calicut. The company has also expanded its outreach to the Institute of Chartered Accountants of India (ICAI) and Management Development Institute (MDI), reported ET.
IIIT Allahabad and IIT BHU have historically been fruitful grounds for Meesho's recruitment drives, securing the highest number of hires.
During the previous campus hiring spree in 2021 for the class of 2022, Meesho recruited a similar count of 150 students across both technical and non-technical domains. The company has now included new institutions for recruitment this year, like IIIT Bangalore, IIIT Lucknow, IIIT Jabalpur, IIIT Kota, and IIIT Gwalior, further expanding its talent pool, Singh confirmed. Also Watch: <a href="https://www.editorji.com/business-news/meesho-removes-52-lakh-counterfeit-products-blocks-over-12-000-accounts-1690984739823">Meesho removes 52 lakh counterfeit products, blocks over 12,000 accounts</a>

Lower customer acquisition costs, better monetisation efforts helped Meesho in achieving profitability. 

After Zomato, Meesho turns profitable after tax: Report

Lower customer acquisition costs, better monetisation efforts helped Meesho in achieving profitability.&nbsp;

E-commerce platform Meesho has managed to turn profitable after tax in July 2023. The company's CFO Dhiresh Bansal told Moneycontrol in an interview that lower customer acquisition costs, better monetisation efforts helped in achieving this milestone.
Also Read: <a href="https://www.editorji.com/business-news/zomato-q1-results-food-delivery-platform-s-revenue-rises-70-turns-profitable-for-the-first-time-1691064823265">Zomato Q1 results: Food delivery platform's revenue rises 70%, turns profitable for the first time</a>
As per Moneycontrol, since the beginning of this year, Meesho has undertaken several measures to cut costs and better its financial health. In its second round of layoffs, it let go of 251 employees from the company&rsquo;s core unit. Meesho had even brought down its cloud expenses by around 50%. All this may have propelled the Bengaluru-based startup further in the direction of profitability.
Bansal also mentioned that the performance is likely to remain same in the coming months however there are chances for FY24 to be marginally positive or negative. Moneycontrol's report also mentioned that Meesho&rsquo;s PAT was a low single digit (Rs crore) in July even while Bansal did not comment on the specific numbers during the interview.
&ldquo;FY24 might be marginally positive or negative. I don't know, I can't forecast with full accuracy. July is a 'business as usual' month because there's no festive season. We wanted to make sure we are profitable before entering the festive season around August when demand is higher&hellip;we expect to continue this sort of profitability,&rdquo; Bansal told Moneycontrol.
Also Read: <a href="https://www.editorji.com/business-news/meesho-removes-52-lakh-counterfeit-products-blocks-over-12-000-accounts-1690984739823">Meesho removes 52 lakh counterfeit products, blocks over 12,000 accounts</a>
The main reason Bansal says for the profit is the reduction in Consumer Acquisition Cost (CAC).&nbsp;
&ldquo;The largest efficiency has come from reducing our CACs by almost 70 percent. Two years ago, our CAC was roughly Rs 250, it has now come down to around Rs 50-60. Even as we reduce our market expenses, we have been getting a similar level of throughput,&rdquo; Bansal said in the interview to Moneycontrol
The company's revenue also grew 54% while its order volumes registered a 43% increase, on a year-on-year (YoY) basis. Bansal has also said that the company is also looking to acquire companies that complement its business. If the move requires Meesho to raise money, it will be open to negotiations.

Meesho has created a ‘Suraksha List’ comprising around 1,800 brands which have been identified as high-risk for infringement and counterfeiting

Meesho removes 52 lakh counterfeit products, blocks over 12,000 accounts

Meesho has created a &lsquo;Suraksha List&rsquo; comprising around 1,800 brands which have been identified as high-risk for infringement and counterfeiting

SoftBank-backed e-commerce firm Meesho has delisted nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products in the past six months, the company said on Wednesday.
The total deactivated products account for less than 5 per cent of the total products listed on Meesho's platform, a company official said.
Meesho said its "Project Suraksha" systems has detected and blocked over 12,000 bad actor accounts from accessing the platform.
"The project has yielded impressive results, with nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products deactivated in the past six months. Since February, there has been a 80 per cent reduction in platform views for non-compliant listings, they now represent a mere 0.1 per cent of platform views," Meesho said in a statement.
Meesho Founder and Chief Technology Officer Sanjeev Barnwal said the company leveraged advanced techniques in computer vision and natural language understanding to continuously fortify quality checks and effectively identify counterfeit products and bad actor sellers.
"We also have a dedicated quality and compliance team that proactively cross verifies automated signals and in turn enables us to combat fraudulent practices which builds trust with our users," Barnwal said.
Meesho has created a &lsquo;Suraksha List&rsquo; comprising around 1,800 brands which have been identified as high-risk for infringement and counterfeiting.
"By continuously investing in technology, enhancing quality checks, and forming strategic brand partnerships, we have significantly improved our ability to detect counterfeit products and protect our users from potential harm," Meesho CXO for Business, Utkrishta Kumar said.

In an email to staff, Meesho Founder and CEO Vidit Aatrey laid off 251 workers, reducing the workforce by 15%. Aatrey said company grew 10 times from 2020 to 2022 which was aided by Covid tailwinds and aggressive investments

Meesho lays off 251 employees

In an email to staff, Meesho Founder and CEO Vidit Aatrey laid off 251 workers, reducing the workforce by 15%. Aatrey said company grew 10 times from 2020 to 2022 which was aided by Covid tailwinds and aggressive investments
&nbsp;
&nbsp;

E-commerce firm Meesho has laid off 251 employees constituting 15 per cent of its workforce to cut costs and as part of its efforts to achieve profitability, a top company official said on Friday.
Meesho Founder and CEO Vidit Aatrey in an email to employees informed about the decision and announced that all the affected employees will get one month extra severance pay beyond the notice period as well as ESOPs irrespective of the period they have been with the company.
"We are reducing the size of the Meesho workforce by 15 per cent, affecting 251 employees," Aatrey said in an internal email.
He said that the company grew 10 times from 2020 to 2022 which was aided by Covid tailwinds and aggressive investments.
"Even as we tracked our plans, the macro climate undeniably and considerably changed. As a result, we have had to accelerate our timeline to profitability as part of Project Redbull, while readjusting our GMV growth goals to 30 per cent YoY.
"While our cash reserves buffer us well for these harsh circumstances, we need to stay highly prudent on the cost front," Aatrey said.
A recent report by Jefferies had said that Meesho is already contribution-margin positive (pre-marketing and indirect spends) and the company is nearing zero cash burn and is on track to achieve EBITDA breakeven this year.
When contacted, the company spokesperson said: "We have taken a difficult decision to part ways with 251 Meeshoites constituting 15 per cent of the employee base, as we look to work with a leaner organizational structure to achieve sustained profitability." The spokesperson said that the company is committed to ensure all those impacted have its full support and will be provided a separation package that includes a one-time severance payment of 2.5 to 9 months (depending on tenor and designation), continued insurance benefits, job placement support and accelerated vesting of ESOPs.
"We remain grateful for their contributions in building Meesho," the spokesperson said.

Imagine not coming back to work for 11 days just after Diwali break. Well, only Meesho employees will have that leverage! 
Online shopping site Meesho has announced an 11-day "reset and recharge" break to its employees for the second year in a row. The break will start after the festive season, from October 22 to November 1.
SoftBank-backed internet commerce firm said that this industry-first initiative will allow "Meeshoites to completely unplug from work and prioritize their mental well-being after the busy festive sale period".
With a deep focus on the holistic well-being of employees, the firm said the move is a reflection of Meesho’s continued commitment to building a people-centric workplace. 
At a time when burnout and anxiety have emerged as key concerns for today’s workforce, Meesho said Reset and Recharge will show the way for other companies to adopt similar employee-first practices.

Meesho gives 11-day reset-and-recharge break to its staff

Imagine not coming back to work for 11 days just after Diwali break. Well, only Meesho employees will have that leverage! 

Meesho gives 11-day reset-and-recharge break

11-day companywide break from October 22 to November 1 for the second year in a row

Imagine not coming back to work for 11 days just after Diwali break. Well, only Meesho employees will have that leverage!&nbsp;
Online shopping site Meesho has announced an 11-day "reset and recharge" break to its employees for the second year in a row. The break will start after the festive season, from October 22 to November 1.
SoftBank-backed internet commerce firm said that this industry-first initiative will allow "Meeshoites to completely unplug from work and prioritize their mental well-being after the busy festive sale period".
With a deep focus on the holistic well-being of employees, the firm said the move is a reflection of Meesho&rsquo;s continued commitment to building a people-centric workplace.&nbsp;
At a time when burnout and anxiety have emerged as key concerns for today&rsquo;s workforce, Meesho said Reset and Recharge will show the way for other companies to adopt similar employee-first practices.

Google said its Russian subsidiary is planning to file for bankruptcy because it can't pay staff and suppliers.
Russian state media reported Wednesday that the U.S. tech company's Russian subsidiary, Google LLC, submitted a notice of its intention to declare bankruptcy to a national registry, Fedresurs.
The company said in a press statement that it filed for bankruptcy because the “Russian authorities' seizure of Google Russia's bank account has made it untenable for our Russia office to function, including employing and paying Russia-based employees, paying suppliers and vendors, and meeting other financial obligations.”
Google, which had previously suspended its business operations in Russia, said it would continue to provide its free services there, including Search, YouTube, Gmail, Maps, its Android operating system and its Play app store.
Job losses are hitting hard on the working class all over the world. Even startups in India have been laying off people. In a latest, Cars24 has laid off around 600 employees as the company moves towards automation and is also cutting cost. 
Ed tech platform Vedantu laid off more than 400 employees on Wednesday after a same incident at Unacademy and Meesho a few days back.

Google Russia to file for bankruptcy; can't pay 100 employees

Google said its Russian subsidiary is planning to file for bankruptcy because it can't pay staff and suppliers.

Google bankrupt in Russia as Kremlin siezes bank accounts

Russian authorities' seizure of Google Russia's bank account has made it untenable for our Russia office to function: Google

Google said its Russian subsidiary is planning to file for bankruptcy because it can't pay staff and suppliers.
Russian state media reported Wednesday that the U.S. tech company's Russian subsidiary, Google LLC, submitted a notice of its intention to declare bankruptcy to a national registry, Fedresurs.
The company said in a press statement that it filed for bankruptcy because the &ldquo;Russian authorities' seizure of Google Russia's bank account has made it untenable for our Russia office to function, including employing and paying Russia-based employees, paying suppliers and vendors, and meeting other financial obligations.&rdquo;
Also read/watch|&nbsp;<a title="Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&amp;P a scam" href="https://www.editorji.com/business-news/markets/explained-why-tesla-is-no-longer-on-green-and-clean-index-musk-calls-s-p-a-scam-1652950825989">Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&amp;P a scam</a> Reuters reports that a Russian TV channel claimed authorities seized 1 billion roubles (about $15 million) from Google in April after it didn&rsquo;t reinstate access to the channel&rsquo;s YouTube account. Russia&rsquo;s communication regulator also threatened to slap Google with a more modest 8 million rouble fine&nbsp;after it removed &ldquo;illegal&rdquo; videos from YouTube. It&rsquo;s unclear how much Russia has seized from Google in total.
Google, which had previously suspended its business operations in Russia, said it would continue to provide its free services there, including Search, YouTube, Gmail, Maps, its Android operating system and its Play app store.
&nbsp;

Days after edtech startup Unacademy reportedly laid off 1000 employees, Facebook Backed Social Commerce Unicorn Meesho has laid off around 150 people primarily from its grocery division Superstore (Farmiso). 
In a post on its blog about the layoffs and restructuring, Meesho said, “About 150 full time employees will be impacted by the restructuring of Meesho Superstore which is aimed at bringing in efficiencies. The company is offering severance packages and outplacement assistance to help those impacted secure new opportunities outside the company.”
Founded in 2015 by IIT-Delhi alumni Vidit Aatrey and Sanjeev Barnwal, Meesho last raised funds in September 2021, following a round in April that year as well.
In March, furniture rental startup Furlenco, Edtech company Lido, social commerce platform Trell and bookkeeping startup OkCredit also shrunk a notable chunk of their employees.

Softbank-backed social commerce start-up Meesho laid off 150 employees

Days after edtech startup Unacademy reportedly laid off 1000 employees, Facebook Backed Social Commerce Unicorn Meesho laid off around 150 employees 

Startup Layoff wave | Meesho lays-off 150 employees

Founded in 2015 by IIT-Delhi alumni Vidit Aatrey and Sanjeev Barnwal, Meesho last raised funds in September 2021

Startups&nbsp;seem to be a on sacking spree. Days after edtech&nbsp;firm&nbsp;Unacademy&nbsp;laid off 1000 employees,&nbsp;Facebook&nbsp;backed&nbsp;social commerce unicorn Meesho&nbsp;has laid off around 150 people primarily from its grocery division Superstore, Farmiso.&nbsp;
Also watch/ read | <a title="Unacademy sacks 1000 employees, mass lay-off to cut cost" href="https://www.editorji.com/business-news/markets/unacademy-sacks-1000-employees-mass-lay-off-to-cut-cost-1649386570103">Unacademy sacks 1000 employees, mass lay-off to cut cost</a>&nbsp;
Explaining the lay-offs the Delhi based firm &nbsp;said, &ldquo;As we look to boost efficiencies in the light of the integration, a small number of full-time roles and certain third-party positions on six-month contracts at Meesho Superstore were reassessed to remove redundancies with the core business.&rdquo;
Founded in 2015 by IIT-Delhi alumni Vidit Aatrey and Sanjeev Barnwal, Meesho last raised funds in September 2021, following&nbsp;a round in April that year&nbsp;as well.
In March, furniture rental startup Furlenco,&nbsp;Edtech company&nbsp;Lido, social commerce platform&nbsp;Trell&nbsp;and bookkeeping startup&nbsp;OkCredit&nbsp;also shrunk a notable chunk of their employees.

Walmart backed e-commerce giant Flipkart&nbsp;launched digital marketplace app Shopsy&nbsp;that aims to connect small scale business people directly with customers. This forays puts Flipkart&nbsp;in direct competition with Facebook&nbsp;backed social commerce platform&nbsp;Meesho.&nbsp;Flipkarts&nbsp;push for local digital marketplace comes at a time when e-commerce giants are facing tougher norms from the govt on 'country of origin' norms of products and also scrutiny on bias to sellers on platform.&nbsp;With Shopsy, Flipkart aims to connect over 25 million online entrepreneurs by 2023 through the digital commerce space.&nbsp;Shopsy will allow individual entrepreneurs and small businesses to share product catalogues and take orders through platforms such as WhatsApp.&nbsp;

Flipkart launches Shopsy to take on Meesho as it becomes 'vocal for local' 

Flipkart launches social commerce app&nbsp;Shopsy to take on Facebook&nbsp;backed&nbsp;Meesho as it becomes 'vocal for local'.&nbsp;

Shopsy

<ul>
<li>Flipkart&nbsp;launches social commerce app Shopsy&nbsp;</li>
<li>Shopsy&nbsp;to allow small biz to share product catalogue and take orders</li>
<li>Flipkart&nbsp;via Shopsy&nbsp;in direct competition with Meesho, Shopify</li>
<li>Flipkart&nbsp;goes 'vocal for local' as scrutiny on e-commerce giants is increasing for biased selling</li>
<li>Flipkart&nbsp;aims to connect over&nbsp;25 million businesses over 2 years via Shopsy</li>
</ul>

<h2 class="alternativeHeadline">With Shopsy, Flipkart aims to enable over 25 million local online entrepreneurs by 2023</h2>

Walmart backed e-commerce giant Flipkart&nbsp;launched digital marketplace app Shopsy&nbsp;that aims to connect small scale business people directly with customers. This foray puts Flipkart&nbsp;in direct competition with Facebook&nbsp;backed social commerce platform&nbsp;Meesho.&nbsp; Flipkart's&nbsp;push for local digital marketplace comes at a time when e-commerce giants are facing tougher norms from the govt on 'country of origin' norms of products and also scrutiny on bias to sellers on platform.&nbsp; With Shopsy, Flipkart aims to connect over 25 million online entrepreneurs by 2023 through the digital commerce space.&nbsp;Shopsy will allow individual entrepreneurs and small businesses to share product catalogues and take orders through platforms such as WhatsApp.&nbsp;

On Biz Buzz this week, Fortune reveals it's 40 under 40 list. Meet the young startup stars making a splash in the business world. We speak to Pristyn Care who is looking beyond covid care to tend to growing medical needs in India. Meesho takes on Amazon and creates 15 million women entrepreneurs.

On Biz Buzz | 40 Under 40 'Meet the Startup Stars'

On Biz Buzz this week, Fortune reveals it's 40 under 40 list. Meet the young startup stars making a splash in the business world. We speak to Pristyn Care who is looking beyond covid care to tend to growing medical needs in India. Meesho takes on Amazon and creates 15 million women entrepreneurs.

$300 million in a fresh funding round led by SoftBank&nbsp;as led&nbsp;Social commerce platform&nbsp;Meesho&nbsp;to be the latest entrant into India&rsquo;s unicorn club. Facebook backed Meesho is now valued at over $2 billion vs $700 mn in August post Facebook&rsquo;s investment.
Meesho&nbsp;provides resellers, who largely comprise housewives and small businesses, with a platform to sell their products across social networks like WhatsApp and&nbsp;Facebook.&nbsp;Meesho caters to over 45 million customers and has&nbsp;13 million individual entrepreneurs registered on it&rsquo;s platform.
Meesho is the fifth start-up this year to cross valuation of $1 billion and gain entry into the unicorn club.

Introducing Meesho, India’s newest unicorn that debuts with $2 billion valuation 

$300 million in a fresh funding round led by SoftBank&nbsp;as led&nbsp;Social commerce platform&nbsp;Meesho&nbsp;to be the latest entrant into India&rsquo;s unicorn club. Facebook backed Meesho is now valued at over $2 billion vs $700 mn in August post Facebook&rsquo;s investment.
&nbsp;

$300 million in a fresh funding round led by SoftBank&nbsp;as led&nbsp;Social commerce platform&nbsp;Meesho&nbsp;to be the latest entrant into India&rsquo;s unicorn club. Facebook backed Meesho is now valued at over $2 billion vs $700 mn in August post Facebook&rsquo;s investment.
Meesho&nbsp;provides resellers, who largely comprise housewives and small businesses, with a platform to sell their products across social networks like WhatsApp and&nbsp;Facebook.&nbsp;Meesho caters to over 45 million customers and has&nbsp;13 million individual entrepreneurs registered on it&rsquo;s platform.
Meesho is the fifth Indian start-up this year to cross valuation of $1 billion and gain entry into the unicorn club.

meesho app

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