Biography of Vidit Aatrey: Founder & CEO of Meesho-E-Commerce Entrepreneur
Story of Vidit Aatrey: A Visionary Leader in Indian E-Commerce
Vidit Aatrey is the founder and CEO of Meesho, an innovative
platform that helps small and medium-sized businesses (SMBs) in India succeed
online. Vidit graduated from IIT Delhi in 2012 and went on to achieve
significant recognition, including being named in Fortune's 40 Under 40 (2021),
Economic Times 40 Under 40 (2021), and Forbes' 30 Under 30 (2018) for both
India and Asia. Before embarking on his entrepreneurial journey, Vidit gained
valuable experience working with companies like ITC and Inmobi.
Early Career at ITC Limited
Vidit began his professional journey at ITC Limited in June
2012, where he worked in operations for two years. His role at ITC Limited,
based in Chennai, provided him with crucial insights and experience in managing
operations, which would later benefit his entrepreneurial endeavors.
Strategy Role at InMobi
In June 2014, Vidit transitioned to a strategy role at
InMobi, a leading global mobile advertising and discovery platform. During his
one-year tenure in Bengaluru, Karnataka, he honed his strategic thinking and
developed a deeper understanding of the digital landscape, further equipping
him for his future ventures.
Transition from Corporate to Entrepreneurship
Vidit's shift from a corporate role to entrepreneurship
began in 2015 when he co-founded Meesho with Sanjeev Barnwal. Their initial
venture, FASHNEAR, was an online platform similar to Swiggy and Zomato but
focused on fashion. FASHNEAR allowed users to purchase clothing and accessories
from local retailers, with delivery services provided through the app. Despite
its innovative approach, the business model had significant flaws, prompting
Vidit and Sanjeev to rethink their strategy.
The Birth of Meesho
Realizing the limitations of FASHNEAR, Vidit and Sanjeev
pivoted and rebranded the company as Meesho. This transition marked a
significant shift from a local fashion delivery service to a comprehensive
social commerce platform. Meesho empowered individuals to connect with
manufacturers and sell selected products online using social media platforms
like WhatsApp, Facebook, and Instagram. This innovative model democratized
e-commerce, making it accessible and profitable for small business owners.
The Genesis of FASHNEAR
Initially, Meesho was launched as FASHNEAR, a platform
similar to Swiggy and Zomato but focused on fashion. FASHNEAR allowed users to
purchase clothing and accessories from local retailers, with delivery services
provided by the app. The concept was innovative, enabling local stores to reach
a broader audience and customers to enjoy the convenience of home delivery for
fashion products.
Biography of Vidit Aatrey: Founder & CEO of Meesho-E-Commerce Entrepreneur/ Success story of Vidit Aatrey & Meesho/Life story of Vidit Aatrey/FASHNEAR
Challenges and Pivots
Despite the initial excitement, Vidit and Sanjeev soon
realized that FASHNEAR's business model had significant flaws. These challenges
prompted them to pivot and rebrand the company as Meesho. This shift marked a
significant transition from a local fashion delivery service to a broader
social commerce platform, focusing on empowering individuals to sell products
online through social media channels.
Building the Largest Social Commerce Platform
Through persistence and strategic pivots, Vidit and his team
transformed Meesho into India's largest social commerce platform. The platform
allows users to connect with manufacturers and sell selected products online
using popular social media platforms like WhatsApp, Facebook, and Instagram.
This approach democratized e-commerce, making it accessible and profitable for
a vast number of small business owners.
Funding Milestones of Meesho
Meesho began its journey by raising $180,000 in an angel
round. This initial funding came from lead investors such as Venture Highway,
Rajul Garg, and several other participants. Building on this early success,
Meesho secured $3.4 million in a Series A round, led by SAIF Partners. The
company continued its growth, raising $11.5 million in a Series B round in June
2018, with Sequoia Capital India as the lead investor. A significant milestone
was reached in June 2019 when Facebook invested $25 million in Meesho.
Meesho’s Initiative for Employee Well-being
In recent news, Meesho announced an 11-day company-wide
break from October 22 to November 1, aiming to address burnout and anxiety
issues among employees. Dubbed ‘Reset and Recharge,’ this initiative
underscores Meesho’s commitment to maintaining the mental health and well-being
of its workforce, furthering its goal of creating a people-centric workplace
environment.
Mega Blockbuster Sale and Expansion Efforts
Meesho, competing with giants like Amazon and Flipkart, has
announced a 'Mega Blockbuster Sale' on September 23. The company expects 80% of
its sales to come from rural India, aligning with its mission to democratize
internet commerce. Before Meesho, its founders launched Fashnear, a fashion
delivery service similar to Swiggy, but they soon recognized flaws in its
business model.
Recognitions and Innovations
Vidit's innovative approach and dedication to Meesho have
not gone unnoticed. He was included in the Entrepreneurs 35 Under 35 list and
recognized by Fast Company as one of India's Most Innovative Companies for
2020. These accolades reflect Vidit's commitment to fostering innovation and
supporting SMBs through Meesho's unique business model.
Transforming Social Commerce
Meesho's success lies in its ability to transform social
commerce in India. By providing a user-friendly platform that leverages social
media, Meesho enables sellers to reach customers effortlessly and manage their
businesses efficiently. This model has empowered countless individuals,
fostering entrepreneurship and contributing to economic growth.
Impactful Innovations in Social Commerce
Meesho's success lies in its ability to transform social
commerce in India. The platform's user-friendly interface allows sellers to
reach customers effortlessly and manage their businesses efficiently. By
leveraging popular social media channels, Meesho has created a seamless way for
individuals to start and grow their businesses, fostering entrepreneurship and
contributing to economic growth.
Honors from Industry Leaders
Vidit's achievements have not gone unnoticed by industry
leaders. In addition to his recognition in various prestigious lists, he
received the MSNBC award from Smt. Nirmala Sitharaman, the Minister of Finance,
for Young Turk Startup of the Year for 2020. This award highlights Vidit's
significant impact on the startup ecosystem and his contributions to the growth
of small businesses in India.
Empowering Small Businesses
Meesho's success lies in its ability to democratize
e-commerce, making it accessible and profitable for small business owners
across India. By leveraging popular social media platforms, Meesho has created
a seamless way for individuals to start and grow their businesses, fostering
entrepreneurship and contributing to economic growth.
Vidit's Broader Contributions
Beyond Meesho, Vidit’s involvement with The/Nudge Institute
highlights his commitment to social impact. As a founding angel, he supports
the institute's mission to alleviate poverty and build resilient livelihoods
through sustainable interventions.
Accolades from Prestigious Platforms
Further cementing his status as a leading entrepreneur,
Vidit was honored as one of Fortune's 40 Under 40 for 2021. This recognition is
a testament to his visionary leadership and the success of Meesho in
transforming the e-commerce landscape. Vidit's inclusion in Forbes' 30 Under 30
in 2018 also underscores his remarkable achievements and contributions to the
industry.
Inspiring Future Entrepreneurs
Vidit Aatrey's journey from an IIT Delhi graduate to a
celebrated entrepreneur is a testament to the power of vision, adaptability,
and perseverance. His work with Meesho continues to inspire and empower small
business owners across India, proving that innovative solutions can lead to
significant impact. Vidit's story serves as an inspiration for aspiring
entrepreneurs, highlighting the importance of resilience and the willingness to
pivot when faced with challenges.
Timeline for Vidit Aatrey's story
June 2012: Vidit Aatrey graduates from IIT Delhi.
June 2012: Vidit begins his professional career at ITC
Limited in Chennai, working in operations.
June 2014: Vidit transitions to a strategy role at InMobi in
Bengaluru, Karnataka, where he works for one year.
2015: Vidit co-founds FASHNEAR with Sanjeev Barnwal, an
online platform focused on fashion delivery from local retailers.
2016: Vidit and Sanjeev pivot FASHNEAR to Meesho, a social
commerce platform empowering individuals to sell products online through social
media channels.
2017: Meesho raises $180,000 in an angel funding round from
investors including Venture Highway and Rajul Garg.
2018: Meesho raises $3.4 million in a Series A funding round
led by SAIF Partners.
2018: Vidit is named in Forbes' 30 Under 30 for India and
Asia.
June 2018: Meesho secures $11.5 million in a Series B
funding round led by Sequoia Capital India.
June 2019: Facebook invests $25 million in Meesho.
2020: Meesho is recognized by Fast Company as one of India's
Most Innovative Companies.
2020: Vidit receives the MSNBC award for Young Turk Startup
of the Year from Smt. Nirmala Sitharaman, the Minister of Finance.
2021: Vidit is named in Fortune's 40 Under 40 and Economic
Times 40 Under 40.
October 22 - November 1, 2021: Meesho announces an 11-day
company-wide break, ‘Reset and Recharge,’ to address employee burnout and
anxiety.
September 23, 2022: Meesho announces a 'Mega Blockbuster
Sale,' expecting 80% of its sales to come from rural India.
Vidit Aatrey's journey from a corporate professional to a
visionary entrepreneur highlights his adaptability, strategic thinking, and
commitment to empowering small and medium-sized businesses in India. Through
his leadership, Meesho has become a significant player in the social commerce
space, transforming the e-commerce landscape and fostering entrepreneurship
across the country.
