• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, July 12, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Meesho shuts down Superstore, laying off 300 employees!

by Mehardeep Singh
August 28, 2022
in Business, Exclusive Interview, Learning, Markets, News, Popular, Press Release, Trending, World
Reading Time: 2 mins read
0
Meesho shuts down Superstore, laying off 300 employees!
TwitterWhatsappLinkedin
Source: Samayam Tamil

As per recent reports, Meesho, India’s fastest growing internet commerce company, reportedly is known to have closed its supermarket chain Superstore in more than 90 percent of Indian towns, leading to the loss of several jobs. Not just that, Meesho Superstore was available in six states Andhra Pradesh, Telengana, Maharashtra, Gujrat as well as Karnataka.

You might also like

Eutelsat OneWeb Raises €1.5 Billion with Strategic Support from UK, France, and Bharti

Weekly Business News: Everything from Fipola’s shutdown to the Kuku FM battle

Weekly Startup Funding News: Indian startups raised $133 Mn this week; from Chai Bisket to AMAMA

After the stores were closed, it has been said that nearly 300 employees lost their employment. However, the business declined to comment on the same. Also, for individuals who were let go, Meesho provided two months’ salary as severance pay, as a gesture of goodwill.

In other words, after rebranding Farmigo to a superstore to highlight its continued aim to fulfill consumer demand for daily essentials in Tier 2 markets and beyond, Meesho is said to have laid off 150 employees in the same month, mostly from Farmigo.

In addition to this, it had at the time focused on integrating its grocery business within the core application. Visit Autrey, Founder, and CEO, of Meesho, had stated this at the time. “What started as a pilot in Karnataka is now seeing positive traction across six states. Driven by our user-first mindset, the integration will provide millions of Meesho users a unified shopping experience, while allowing us to drive stronger synergies across areas such as customer acquisition, technology, and product and talent,” he had said in the statement.

Source: The Economic Times

As noted in a report, Meesho is said to have offered a two-month salary as a severance package to the laid off-on-role employees. Moreover, the company has also absorbed some of the on-roll employees in its core business. Furthermore, as per most of the employees who were fired, low revenue and a high cash burn were the two major reasons behind the company’s move to shy away from the venture and end operations in most of the cities.

“The business was not working right. There was no money coming in, this is why they decided to shut operations in most of the cities,” one of the sources told the media organization.

“We were burning a lot of money for this business. Meesho started business in six states without proper planning. The supply chain was an issue, and so was the logistics,” another source added.

Lastly, as mentioned in a  report by news18, Meesho launched a pilot in Karnataka to make online grocery shopping affordable, and the company aimed to make Superstore available in 12 states by the end of 2022.

Reading so far, I hope you must have gotten a fair insight into Meesho shutting down its grocery Superstore, and laying off 300 employees, and by now I believe you will be able to decide on your own whether or not you think it was the right thing to do and whether or not you think will be their next move.

In conclusion, what are your thoughts on Meesho shutting down the grocery arm ‘Superstore’, and laying off 300 employees? Do let us know in the comments area below. To know more about such reports, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also Read: Know all about WestBridge Capital’s fundraiser for $1.5 billion and its investment plans in India!

 

Tags: FarmigoMeeshoSuperstore
Tweet54SendShare15
Previous Post

A recent survey conducted in UK finds hilarious EV misconceptions

Next Post

Delware’s Court Terms Musks Data Demand Abusrdly Broad

Mehardeep Singh

Recommended For You

Eutelsat OneWeb Raises €1.5 Billion with Strategic Support from UK, France, and Bharti

by Thomas Babychan
July 12, 2025
0
Eutelsat OneWeb Raises €1.5 Billion with Strategic Support from UK, France, and Bharti

Eutelsat Group has completed a major financial move by securing €1.5 billion through a capital increase. This step is expected to reshape its position in the global satellite...

Read more

Weekly Business News: Everything from Fipola’s shutdown to the Kuku FM battle

by Ishaan Negi
July 12, 2025
0
Weekly Business News: Top business updates in this week

Fipola’s Sudden Shutdown Leaves Employees Stranded Once regarded as a rising star in the D2C meat market, Chennai-based meat delivery firm Fipola Retail India Pvt. Ltd. abruptly shut...

Read more

Weekly Startup Funding News: Indian startups raised $133 Mn this week; from Chai Bisket to AMAMA

by Ishaan Negi
July 12, 2025
0
Weekly Startup Funding News: Indian startups raised $447 Mn this week; from Techjockey to Physics Wallah

After a couple of high-octane weeks for India’s startup funding scene, the pulse slowed considerably between July 7 and 12. The ecosystem saw a sharp 58% dip in...

Read more
Next Post
Dilware’s Court Terms Musks Data Demand Abusrdly Broad

Delware’s Court Terms Musks Data Demand Abusrdly Broad

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?