Facebook backs Meesho

Facebook has made its maiden startup investment in India. The social media giant put in an undisclosed amount for a minority stake in Meesho, an online marketplace that connects buyers and sellers on social media platforms. Started by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal, the Y Combinator alumnus has so far raised 65 million dollar from the likes of DST Partners and Shunwei Capital. Facebook, which acqui - hired Bengaluru - based startup Little Eye Labs in 2014, launched its Marketplace in India last year.

This is significant. World's biggest social media company invests in India's biggest social commerce company. The ramifications are huge. India's e-commerce space just got very interesting.

Facebook believes it can be even more of an ally for India and fuel the India internet story and even more, the kind of impact that they are having in lighting up female entrepreneurship. Meesho says that investment will help it further its efforts to enable independent entrepreneurs to build businesses and grow their customer base via social channels.Including all dimensions of the society in their enterpreneurial vision has somehow worked for Meesho in bagging this funding

Facebook marketplace is willing to see more organic growth and behavior of Indian consumer. Meesho will be helpful.