[ { "id": 1180, "name": "Mindori", "slug": "mindori", "former_names": [ "Dialeqt" ], "small_logo_thumb_url": "/company/thumb/missing.png", "website": "http://www.mindori.com", "all_locations": "San Francisco, CA, USA; Palo Alto, CA, USA", "long_description": "Mindori is the accurate way to search your app by voice for e-commerce companies. Build magical conversational search for your app in minutes, with no learning curve.\n\"What about shirts that I can wear at a wedding?\". Search over concepts that you may not have thought to index in your database.\n\"Find a green shirt\" - \"What about in red?\". Make the experience magical for users through context.\nWas it \"Koffee Kult\" or \"coffee cult\"? Customize speech recognition models for your product catalog and customer queries.\nGet started in minutes. Improving the model requires only minutes per day, not hours. Track user preferences and deliver customized suggestions based on their buying behavior and patterns. Export your generated models to popular assistant or chatbot frameworks automatically.", "one_liner": "Mindori builds white-label voice search for e-commerce apps.", "team_size": 1, "industry": "B2B", "subindustry": "B2B -> Retail", "launched_at": 1461182709, "tags": [ "E-Commerce" ], "tags_highlighted": [], "top_company": false, "isHiring": false, "nonprofit": false, "batch": "Summer 2016", "status": "Inactive", "industries": [ "B2B", "Retail" ], "regions": [ "United States of America", "America / Canada" ], "stage": "Early", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": null, "url": "https://www.ycombinator.com/companies/mindori", "api": "https://devasheeshg.github.io/yc-api/batches/summer-2016/mindori.json", "year_founded": null, "city": "San Francisco", "country": "US", "linkedin_url": null, "x_url": null, "fb_url": null, "cb_url": "https://www.crunchbase.com/organization/mindori", "github_url": null, "logo_url": null, "app_video_url": null, "dday_video_url": null, "company_photos": [], "primary_partner": null, "founders": [ { "user_id": 103041, "full_name": "Chris Lengerich", "title": "Founder/CEO", "founder_bio": "www.chrislengerich.com", "is_active": true, "linkedin_url": "https://www.linkedin.com/in/chrislengerich", "x_url": "https://mobile.twitter.com/chrislengerich", "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/c0fcc68ef8466d24e0ff31af97ce4e0a68fe0b1f.jpg" } ], "jobs": [], "news": [], "launches": [] }, { "id": 1181, "name": "Prime Lightworks", "slug": "prime-lightworks", "former_names": [], "small_logo_thumb_url": "https://bookface-images.s3.amazonaws.com/small_logos/4f4a3331b2b4e5de8d59a95e3221b7b470564f0d.png", "website": "http://www.primelightworks.com", "all_locations": "Culver City, CA, USA", "long_description": "Prime Lightworks Inc. manufactures electric propulsion systems for space satellites.Their goal is to engineer new possibilities in space while drastically reducing cost and waste.", "one_liner": "Prime Lightworks Inc. manufactures electric propulsion systems for…", "team_size": 1, "industry": "Industrials", "subindustry": "Industrials -> Aviation and Space", "launched_at": 1461182716, "tags": [ "Climate" ], "tags_highlighted": [], "top_company": false, "isHiring": false, "nonprofit": false, "batch": "Summer 2016", "status": "Active", "industries": [ "Industrials", "Aviation and Space" ], "regions": [ "United States of America", "America / Canada" ], "stage": "Early", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": null, "url": "https://www.ycombinator.com/companies/prime-lightworks", "api": "https://devasheeshg.github.io/yc-api/batches/summer-2016/prime-lightworks.json", "year_founded": null, "city": "Culver City", "country": "US", "linkedin_url": "", "x_url": "", "fb_url": null, "cb_url": "https://www.crunchbase.com/organization/prime-lightworks", "github_url": null, "logo_url": "https://bookface-images.s3.amazonaws.com/small_logos/4f4a3331b2b4e5de8d59a95e3221b7b470564f0d.png", "app_video_url": null, "dday_video_url": null, "company_photos": [], "primary_partner": null, "founders": [ { "user_id": 124318, "full_name": "Kyle Flanagan", "title": "Founder/CEO & President", "founder_bio": null, "is_active": true, "linkedin_url": "https://www.linkedin.com/in/kyleflanagan", "x_url": null, "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/d4333ce8b2b0492d6d899246b8df4cc5cccf01e2.jpg" } ], "jobs": [], "news": [], "launches": [] }, { "id": 1182, "name": "Seneca Systems", "slug": "seneca-systems", "former_names": [], "small_logo_thumb_url": "/company/thumb/missing.png", "website": "https://www.senecagov.com", "all_locations": "San Francisco, CA, USA; Redwood City, CA, USA", "long_description": "Every day, incredible government workers serve the public without the resources—and appreciation—their important work deserves. These hard-working teams have to deal with communications arriving from too many channels, maze-like processes for fulfilling constituent requests, and a dangerous lack of visibility into constituent opinions on major issues and the work teams perform. \n\nSoftware can help! But the vendor community has responded with hard-to-use, hard-to-implement, and hard-to-purchase private sector software rather than building something from the ground up. These outdated solutions fail to address government workers’ unique challenges. \n\nSeneca Systems was founded to address those challenges and strengthen the vital bond between government and people. Our Constituent Services Platform, Romulus, centralizes constituent communications, organizes service requests, and provides insights into constituent preferences and work performed. Built for governments by people who love government workers, Romulus enables government workers to get more done in less time, with less overhead, and to more constituent applause.", "one_liner": "Constituent system-of-record and service request management software…", "team_size": 11, "industry": "Government", "subindustry": "Government", "launched_at": 1461182716, "tags": [ "GovTech" ], "tags_highlighted": [], "top_company": false, "isHiring": false, "nonprofit": false, "batch": "Summer 2016", "status": "Acquired", "industries": [ "Government" ], "regions": [ "United States of America", "America / Canada" ], "stage": "Early", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": null, "url": "https://www.ycombinator.com/companies/seneca-systems", "api": "https://devasheeshg.github.io/yc-api/batches/summer-2016/seneca-systems.json", "year_founded": null, "city": "San Francisco", "country": "US", "linkedin_url": null, "x_url": "", "fb_url": null, "cb_url": "https://www.crunchbase.com/organization/seneca-systems", "github_url": null, "logo_url": null, "app_video_url": null, "dday_video_url": null, "company_photos": [], "primary_partner": null, "founders": [ { "user_id": 10826, "full_name": "Nick DeMonner", "title": "Founder/CEO", "founder_bio": "Co-Founder @ Motor\nCo-Founder/CEO @ Metawork\nDirector of Engineering @ Coinbase\nCo-Founder/CTO, then CEO @ Seneca Systems (YC S16; acquihired Coinbase)", "is_active": true, "linkedin_url": "https://www.linkedin.com/in/nick-demonner/", "x_url": "", "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/600c5209112ff1e75eec34500b7489e29bb33f51.jpg" } ], "jobs": [], "news": [], "launches": [] }, { "id": 1183, "name": "NuCypher (aka Threshold Network)", "slug": "nucypher-aka-threshold-network", "former_names": [ "ZeroDB", "NuCypher", "Threshold" ], "small_logo_thumb_url": "/company/thumb/missing.png", "website": "https://threshold.network/", "all_locations": "Austin, TX, USA; Remote", "long_description": "NuCypher is one of two founding teams of the Threshold Network, which hosts tBTC, TACo, Random Beacon & tUSD. Since 2017, NuCypher has pioneered cryptographic primitives for end-to-end encrypted data sharing, including Proxy Re-Encryption and Threshold Access Control (TACo), novel cryptoeconomic mechanisms (e.g. Stable Yield). and original network/governance architectures (including a historic on-chain merger). TACo, our flagship product, is running on over 120 nodes with ~$80m of associated economic security, has paying adopting developers and major infrastructure partners (Ceramic, Irys, Textile, Unlock), and has been decentralized from genesis (mainnet launch in Jan 2024).", "one_liner": "Network for decentralized threshold cryptography and end-to-end…", "team_size": 10, "industry": "B2B", "subindustry": "B2B", "launched_at": 1461182717, "tags": [ "Cryptography", "Privacy" ], "tags_highlighted": [], "top_company": false, "isHiring": false, "nonprofit": false, "batch": "Summer 2016", "status": "Inactive", "industries": [ "B2B" ], "regions": [ "United States of America", "America / Canada", "Remote", "Fully Remote" ], "stage": "Early", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": null, "url": "https://www.ycombinator.com/companies/nucypher-aka-threshold-network", "api": "https://devasheeshg.github.io/yc-api/batches/summer-2016/nucypher-aka-threshold-network.json", "year_founded": 2015, "city": "Austin", "country": "US", "linkedin_url": "", "x_url": "https://twitter.com/TheTNetwork", "fb_url": null, "cb_url": "https://www.crunchbase.com/organization/nucypher", "github_url": "https://github.com/nucypher", "logo_url": null, "app_video_url": null, "dday_video_url": null, "company_photos": [], "primary_partner": null, "founders": [ { "user_id": 74399, "full_name": "MacLane Wilkison", "title": "Founder/CEO", "founder_bio": "", "is_active": false, "linkedin_url": "https://www.linkedin.com/pub/maclane-wilkison/13/70a/677", "x_url": "https://twitter.com/maclanewilkison", "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/bb89221187fd16c1d525ab7ca52c75baa417d2de.jpg" } ], "jobs": [], "news": [ { "title": "Threshold Network launches a trust-minimized bitcoin bridge", "url": "https://www.axios.com/2023/01/31/threshold-network-bitcoin-ethereum-bridge", "date": "Jan 31, 2023" } ], "launches": [ { "id": 68889, "title": "tBTC 💸 The truly decentralized bridge between Bitcoin and Ethereum", "tagline": "Meet tBTC, a decentralized, permissionless, scalable BTC bridge to DeFi", "body": "Hey everyone! We’re [NuCypher](https://www.nucypher.com/) (YC S16), contributors to [Threshold Network](https://threshold.network/).\n\n### **Tl;dr**\n\ntBTC is a trust-minimized bitcoin bridge that lets users wrap their BTC in exchange for tBTC tokens that can be deployed permissionlessly in the Ethereum DeFi ecosystem. Bitcoin is the most pristine digital asset and it deserves a decentralized financial system that's equally pristine. Mint tBTC and use your BTC as collateral to borrow, lend, LP, and more on Ethereum.\n\n### **👪 Who is it for**\n\nAre you a **BTC hodler, hedge fund, token fund, crypto VC, family office, DeFi OG, or high net worth individual who holds Bitcoin** but are concerned about the risk of permissioned and centralized bridges like wBTC? Do you worry about centralization risks like censorship or the bankruptcy/liquidation of a centralized custodian like what happened with FTX/Alameda and renBTC?\n\nThen tBTC is for you.\n\n# **💡** How does it work?\n\n**Decentralized Custody**\n\nIt's simple! Rather than sending your BTC to a centralized custodian, you permissionlessly interact with the Threshold Network smart contract on Ethereum and your BTC is custodied by the decentralized network of Threshold stakers (under the hood some fancy cryptography is happening using distributed key generation and threshold signatures). You deposit your BTC in an address generated by Threshold stakers and receive tBTC in your Ethereum wallet. **All this can be done via the** [**Threshold dashboard**](https://dashboard.threshold.network/tBTC).\n\n**Your Passport to DeFi**\n\nOnce minted, you can use your tBTC like any other token on Ethereum and across the DeFi ecosystem: to lend, borrow, yield farm, safeguard in smart contract multisigs like Gnosis Safe, and more…\n\n# **💪 Why we built tBTC!**\n\nWe built it for ourselves. We’ve been through multiple crypto cycles and have seen first-hand the risks of centralization and the ensuing loss of funds, all the way from Mt Gox to FTX/Alameda, more recently. We know not to send our BTC to an opaque centralized custodian just to put it to work. Bitcoin is the most pristine digital asset and it deserves a financial system that’s just as pristine.\n\n### **🙏🏻 Our Ask**\n\nIf you want to put your BTC to work, mint tBTC and get your passport to DeFi (but make sure you understand the risks, first): [**https://dashboard.threshold.network/tBTC**](https://dashboard.threshold.network/tBTC)\n\nOur community is here to help, come join the fun in [**Discord**](https://discord.com/invite/threshold), learn more about tBTC, and maybe even contribute to the DAO!", "url": "https://www.ycombinator.com/launches/Hv7-tbtc-the-truly-decentralized-bridge-between-bitcoin-and-ethereum", "votes": 17, "created_at": "2023-01-31T18:42:53.249Z" } ] }, { "id": 1184, "name": "Vetcove", "slug": "vetcove", "former_names": [], "small_logo_thumb_url": "https://bookface-images.s3.amazonaws.com/small_logos/c14ca2790645cac39d58fb3153dab0e3e2c7e005.png", "website": "https://www.vetcove.com", "all_locations": "Miami, FL, USA; Remote", "long_description": "Vetcove is how veterinarians buy the supplies they need to keep America's pets healthy. Our community of more than 18,000 veterinary hospitals employs tens of thousands of veterinarians and delivers care to many millions of animals every year across all 50 states. As of 2022, we power purchasing and supply chain infrastructure for half of America's general practices, emergency and specialty clinics, SPCAs, zoos, aquariums, and veterinary consolidators.\r\n\r\nVetcove's eCommerce and mobile platforms afford veterinary hospitals a frictionless purchasing experience, and facilitate delivery of medications to pet parents across the country. Simply put, Vetcove helps veterinary organizations spend more time giving care, and less time comparing suppliers and managing inventory. We're completely revolutionizing the way veterinarians discover and buy products, and how animal health brands engage their veterinary customers.\r\n\r\nWe're hiring! Come join us on our journey to transform how vets buy and prescribe the animal healthcare products that keep our pets in peak condition.", "one_liner": "Powering the animal health supply chain.", "team_size": 170, "industry": "B2B", "subindustry": "B2B -> Supply Chain and Logistics", "launched_at": 1461182717, "tags": [ "Marketplace", "B2B", "Healthcare", "E-commerce", "Enterprise Software" ], "tags_highlighted": [], "top_company": false, "isHiring": true, "nonprofit": false, "batch": "Summer 2016", "status": "Active", "industries": [ "B2B", "Supply Chain and Logistics" ], "regions": [ "United States of America", "America / Canada", "Remote", "Fully Remote" ], "stage": "Growth", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": null, "url": "https://www.ycombinator.com/companies/vetcove", "api": "https://devasheeshg.github.io/yc-api/batches/summer-2016/vetcove.json", "year_founded": 2015, "city": "Miami", "country": "US", "linkedin_url": "https://www.linkedin.com/company/vetcove", "x_url": "https://twitter.com/vetcove", "fb_url": "https://www.facebook.com/vetcove/", "cb_url": "https://www.crunchbase.com/organization/vetcove-2", "github_url": "https://github.com/vetcove", "logo_url": "https://bookface-images.s3.amazonaws.com/small_logos/c14ca2790645cac39d58fb3153dab0e3e2c7e005.png", "app_video_url": null, "dday_video_url": null, "company_photos": [ "https://bookface-images.s3.us-west-2.amazonaws.com/attachments/3c4db196180ed1c9126af411fe34adaffea67c9d.png" ], "primary_partner": { "name": "Jared Friedman", "url": "https://www.ycombinator.com/people/jared-friedman" }, "founders": [ { "user_id": 78732, "full_name": "Alex Kates", "title": "Founder/CEO", "founder_bio": "N/A", "is_active": true, "linkedin_url": "http://linkedin.com/in/alexkates", "x_url": "https://twitter.com/ajkates", "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/0ae9b807da63ed4766955228ccfafa01435fbbfe.jpg" }, { "user_id": 140134, "full_name": "Mitchell Kates", "title": "Founder/Tech", "founder_bio": null, "is_active": true, "linkedin_url": "https://www.linkedin.com/in/mitchkates", "x_url": null, "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/914c742dfe8d66360e722d2ba71eb409273ee574.jpg" } ], "jobs": [ { "id": 38964, "title": "Software Engineer", "url": "https://www.ycombinator.com/companies/vetcove/jobs/XlP1cP0eQ-software-engineer", "location": "Remote (US)", "type": "Full-time", "role": "Engineering", "role_type": "Full stack", "salary_range": "", "equity_range": "", "experience": "3+ years", "visa": "US citizen/visa only", "skills": [ "Python" ] }, { "id": 56381, "title": "Engineering Manager", "url": "https://www.ycombinator.com/companies/vetcove/jobs/VlBTYUm-engineering-manager", "location": "Remote / Remote (US)", "type": "Full-time", "role": "Engineering", "role_type": "Full stack", "salary_range": "", "equity_range": "", "experience": "", "visa": "US citizen/visa only", "skills": [] } ], "news": [], "launches": [] }, { "id": 1185, "name": "SmartSite", "slug": "smartsite", "former_names": [], "small_logo_thumb_url": "/company/thumb/missing.png", "website": "http://www.smartsitesafety.com/", "all_locations": "London, England, United Kingdom", "long_description": "Making construction sites safer for workers, and easier to manage for the firms that operate them. \n\nSmartSite makes active mitigation of health and safety risks automatic, and helps companies comply with regulation. SmartSite combines a rugged, site-deployed smart connected device, with a robust cloud infrastructure and accessible dashboards.", "one_liner": "Smartsite is a hardware device to protect workers from health risks…", "team_size": 2, "industry": "Real Estate and Construction", "subindustry": "Real Estate and Construction -> Construction", "launched_at": 1461182717, "tags": [ "Hardware", "Construction" ], "tags_highlighted": [], "top_company": false, "isHiring": false, "nonprofit": false, "batch": "Summer 2016", "status": "Inactive", "industries": [ "Real Estate and Construction", "Construction" ], "regions": [ "United Kingdom", "Europe" ], "stage": "Early", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": null, "url": "https://www.ycombinator.com/companies/smartsite", "api": "https://devasheeshg.github.io/yc-api/batches/summer-2016/smartsite.json", "year_founded": null, "city": "London", "country": "GB", "linkedin_url": null, "x_url": null, "fb_url": null, "cb_url": "https://www.crunchbase.com/organization/smartsite", "github_url": null, "logo_url": null, "app_video_url": null, "dday_video_url": null, "company_photos": [], "primary_partner": null, "founders": [ { "user_id": 111012, "full_name": "James Batstone", "title": "Founder", "founder_bio": null, "is_active": true, "linkedin_url": "https://www.linkedin.com/in/jamesbatstone", "x_url": null, "avatar_thumb_url": "https://bookface-images.s3.us-west-2.amazonaws.com/avatars/e6ada9360546797bfccfefd0606cd3cd653506d7.jpg" } ], "jobs": [], "news": [], "launches": [] }, { "id": 1186, "name": "Selfycart", "slug": "selfycart", "former_names": [], "small_logo_thumb_url": "/company/thumb/missing.png", "website": "https://www.selfycart.com", "all_locations": "San Francisco, CA, USA; San Mateo, CA, USA", "long_description": "The fastest, easiest, and most secure way to checkout in retail stores. Selfycart is working towards a world where there are no lines, and no wait, to checkout. 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With a vision to enable 100 million small businesses, including individual entrepreneurs, to succeed online, Meesho is democratising internet commerce and bringing a range of products and new customers online. The Meesho marketplace provides sellers access to millions of customers, selections from over 30 categories, pan-India logistics, payment services and customer support capabilities to efficiently run their businesses. \r\n\r\n", "one_liner": "Democratizing internet commerce for everyone in India", "team_size": 1450, "industry": "B2B", "subindustry": "B2B -> Retail", "launched_at": 1461732013, "tags": [ "E-commerce", "Retail" ], "tags_highlighted": [], "top_company": true, "isHiring": true, "nonprofit": false, "batch": "Summer 2016", "status": "Public", "industries": [ "B2B", "Retail" ], "regions": [ "India", "South Asia", "Remote", "Partly Remote" ], "stage": "Growth", "app_video_public": false, "demo_day_video_public": false, "app_answers": null, "question_answers": [ { "question": "How did your company get started? (i.e., How did the founders meet? How did you come up with the idea? How did you decide to be a founder?)", "answer": "Meesho – short for Meri Shop (My Shop) – was founded by Vidit Aatery and Sanjeev Barnwal in 2015. Vidit and Sanjeev were wing mates at the Indian Institute of Technology (IIT) Delhi hostel, with their rooms located diagonally opposite each other. Upon completion of their engineering, Vidit worked with Indian consumer goods major ITC for a couple of years, followed by a year-long stint at ad-tech startup InMobi. Sanjeev joined Sony in Japan, contributing to the camera technology for DSLRs and mobiles. **\\**\\The duo got back in touch in May 2015 and decided to start up. For them, two things were clear.  One, it was a great time to be a tech entrepreneur in India – doing anything else would mean not living up to their potential. Two, solving a large-scale problem that affects more than 100 million people and something they can relate to. \\\\Soon, Vidit and Sanjeev realized that most small businesses in India were still offline. They only sold within their communities and localities, which limited their earning potential. \\\\On the consumer side, traditional e-commerce companies focused on the metros and relatively affluent consumers, leaving smaller cities and those with lower incomes out of the internet commerce revolution. Vidit and Sanjeev wanted to take the benefits of e-commerce to this cohort of consumers, democratizing internet commerce for everyone. \\\\To that end, Vidit and Sanjeev gauged the immense potential of social networks as a sales channel early on. They created a platform that enabled millions of people, including homemakers, to become entrepreneurs and resell products in their network via WhatsAp. Meesho pioneered social commerce in India and it now has \\~16 million entrepreneurs on the platform, of which over 10 million are women. \\\\What started as an idea to digitize India’s unorganized retail is now a $4.9B e-commerce company, a single thriving ecosystem of sellers, entrepreneurs and consumers. Meesho’s evolution from pure play social commerce to e-commerce is a testament to how the company is transforming the industry and making e-commerce accessible to the masses. With a vision to enable 100 million small businesses to succeed online, Meesho is continuously facilitating MSMEs’ transition from the offline to the online world." }, { "question": "How did you decide to apply to Y Combinator? What was your experience applying, going through the batch, and fundraising at demo day?", "answer": "Put simply, Vidit and Sanjeev decided to apply to Y Combinator because they were fans of Paul Graham's iconic essays 🙂They were hungry to learn how to start up from great mentors and other entrepreneurs in Silicon Valley – the global hub of tech innovations and startups. Y Combinator’s application process made Vidit and Sanjeev think hard about what they were building, what unique insight they had that no one else did, etc. Some of these fundamental questions helped refine their thinking a great deal. While going through the batch, they learned a lot about growth and user behavior from other startups. At the same time, Y Combinator partners connected them to other entrepreneurs like Twitch co-founder Emmett Shear, who shared valuable advice with Vidit and Sanjeev on how to get insights from users to build products." }, { "question": "How have you kept in touch with the YC community and continued to use YC resources & programs since the batch ended?", "answer": "The Y Combinator community is very active, both in India as well as globally. Vidit and Sanjeev are now close friends with some of the other Y Combinator founders. They often brainstorm together on the challenges they are working on, always learning something new in the process. " }, { "question": "What's the history of your company from getting started until the present day? What were the big inflection points?", "answer": "When Sanjeev and Vidit got together in July 2015, they were looking at building a hyperlocal platform for fashion. During the early days, the founders did everything from taking shop inventories to cataloging them on the app to making the deliveries themselves – listening intently to feedback from users and suppliers all this while. A couple of iterations later, Meesho became a social commerce platform where resellers used WhatsApp, Facebook and Instagram to become a bridge between suppliers and consumers. Millions of resellers, most of them women, were able to supplement their household income by starting virtual stores on social channels without any investment and selling to their community. In the process, they achieved financial independence – besides a sense of accomplishment and identity. While Meesho pioneered the concept of social commerce in India, e-commerce adoption tailwinds from COVID-19 saw many consumers become more comfortable with directly shopping online. This was a huge opportunity for Meesho to tap and the company has been operating a marketplace connecting sellers and consumers (in addition to WhatsApp-led reselling) for over 1.5 years now. Direct sales on the platform now account for 80% of Meesho’s business. **Funding:** In July 2016, Meesho was selected by Y Combinator for a three-month summer program. In October 2017, the company raised $3.1 million in a [Series A round](https://en.wikipedia.org/wiki/Series_A_round) from investors led by Elevation Capital (formerly SAIF Partners), following it up with a Series B round of $11.5 million in June 2018. Five months later, Meesho closed its Series C round of $50 million at a valuation of $200-250 million. Soon, Meta (formerly Facebook) came aboard as an investor in August 2019 and the company raised 125 million, becoming India’s first startup to be backed by the social network. In April 2021, Meesho turned a [unicor](https://www.moneycontrol.com/news/business/meesho-raises-300-million-led-by-softbank-enters-unicorn-club-6729831.html)n with SoftBank leading a $300 million funding round that valued the company at $2.1 billion. Later in the year, Meesho raised [$570 million](https://www.moneycontrol.com/news/business/meesho-raises-570-million-from-fidelity-b-capital-others-at-4-9-billion-valuation-7524951.html) in its Series F round, doubling its valuation to $4.9 billion. The company has so far raised $1.06 billion from marquee investors including Prosus Ventures, Elevation Capital, Sequoia Capital, Good Capital and Symphony International. **Growth and scale:** 2021 and 2022 were breakout years for Meesho with the business growing exponentially and witnessing strong momentum on several fronts. Meesho became the world’s most downloaded e-commerce app globally in October 2021, as per [data.ai](http://data.ai). It repeated the feat in the first half of 2022, logging record downloads, according to Apptopia. During the calendar year 2022, the Meesho app recorded the highest Monthly Active Users worldwide, as per [data.ai](http://data.ai). In 2022, the company saw 910 million orders, with nearly 80% of them coming from small towns,  showcasing how the company’s value proposition of affordability continues to be a significant differentiator. Affordable, relatable merchandise mirroring local markets has helped Meesho make inroads into homes of first-time internet users across the country. The company’s 85 million+ active product listings and strong value prop of everyday low prices has resulted in 140 million annual transacting users. On the seller side, the company’s relentless focus on digitizing small businesses is bearing fruit. Driven by industry-first initiatives such as zero commission and by ensuring there’s no private label play or tiering of sellers, Meesho’s supplier base has grown to over 825,000. Three in five of them are new-to-e-commerce and selling on Meesho for the first time. One of the reasons Meesho is able to deliver on its promise of everyday low prices is because of its asset-light structure, wherein it works with third-party logistics players for order fulfillment. Meesho is the single-largest contributor to India’s fast-growing third-party logistics industry, accounting for \\~35% of all shipments delivered by national players. **Inflection points:** The landmark entry of telecom operator Reliance Jio revolutionized India’s internet landscape. The availability of fast data, almost free of cost, catalyzed internet penetration, taking it to the deepest and remotest corners of the country. As other telecom companies followed suit, almost all of India became the Target Addressable Market in one fell swoop – opening the doors of opportunity for e-commerce companies. Additionally, the Covid-19 pandemic paved the way for a huge transformation in India’s retail landscape. Widespread adoption of e-commerce by millions of consumers across the country marked a record shift from offline to online. At the same time, millions of sellers discovered the potential of e-commerce platforms and embarked on their online journey." }, { "question": "What is the core problem you are solving? Why is this a big problem? What made you decide to work on it?", "answer": "Meesho — India’s only true online marketplace — is altering the status quo with an asset-light business model to make e-commerce inclusive and accessible for the next billion users in India.Over the last 15 years, e-commerce in India evolved with a focus on convenience-seeking customers in metros and Tier 1 cities with enough purchasing power. Much less attention was paid to residents of smaller towns and those from lower income groups with different needs around selection and affordability. Meesho is constantly working towards enabling access for this cohort of customers, reimagining the internet commerce journey for them. Over the last seven years, the company has built a simple and easy-to-use e-commerce platform that’s helped millions of new-to-ecommerce users come online. The company currently has close to \\~140 million annual transacting customers. Additionally, Meesho’s vision is to enable the smallest of sellers in India to digitize their business and reap the benefits of online commerce: a much bigger market, higher incomes, a digital footprint, et al. Driven by this vision, Meesho has routinely identified and solved the challenges that potentially deter sellers from embracing e-commerce. The company launched disruptive, industry-first initiatives like zero seller commission that leave more money in the hands of suppliers and allow them to expand their business. As India’s only true e-commerce marketplace, Meesho does not differentiate between sellers on the basis of tiers, nor does it have private labels or an inventory-led play. Meesho was built on the core principle of democratization of internet commerce for the smallest of sellers across the country." }, { "question": "What is your long-term vision? If you truly succeed, what will be different about the world?", "answer": "Creating a level playing field for small businesses to succeed online while catering to underserved, price-sensitive users — Meesho is on a mission to democratize internet commerce for everyone. India’s unorganized retail is estimated to account for 85% of the overall retail sector, indicating a huge opportunity for small businesses and consumers to come online. All that is required is the right platform and opportunity, a little bit of resources and some hand holding. Additionally, of the \\~700M active internet users in India, only 216M transact online. There is a large chunk of people in tier 2+ cities who do not transact online. Meesho’s vision is to bring underserved users into the e-commerce fold by leveraging technology, its wide reach and strong understanding of how India shops. If Meesho truly succeeds, small businesses will be empowered to sell their wares across the country, earn more and generate employment at scale, taking India closer to its goal of a $5 trillion economy. 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