Facebook backs Meesho in first startup investment in India

Social networking giant Facebook Inc. has invested in Bengaluru- and California-based Meesho, an online marketplace for resellers, five years after first acquiring an Indian startup.

Facebook had bought Bengaluru-based Little Eye Labs in 2014. Its US peers Google and Twitter Inc. have also either invested in an Indian company or bought one. Twitter had, in 2015, acquired mobile-based customer engagement platform ZipDial while Google made its first direct investment in an Indian company in December 2017 when it backed daily tasks management app Dunzo.

Facebook's investment will help Meesho enable independent entrepreneurs to build businesses and grow their customer base via social channels, the startup said in a tweet.