Meesho co-founder Vidit Aatrey enters billionaire club
What's the story
Vidit Aatrey, the co-founder and CEO of Meesho, has officially become a billionaire. His net worth crossed the $1 billion mark after the company's shares skyrocketed by over 74% since listing last week. The stock hit a record high of ₹193 per share, compared to its issue price of ₹111, catapulting Aatrey into the coveted billion-dollar club.
Wealth surge
Aatrey's stake in Meesho now valued at ₹9,128 crore
Aatrey holds 47.25 crore shares or an 11.1% stake in Meesho. Based on the listing-day high, his ownership is now worth ₹9,128 crore or $1 billion. Sanjeev Barnwal, another co-founder of the company, also witnessed a surge in his wealth as his 31.6 crore shares are now valued at ₹6,099 crore.
Company evolution
Meesho's journey from Fashnear to a billion-dollar company
Founded in 2015 by Aatrey and Barnwal, Meesho has become one of India's leading social commerce platforms. The company started as Fashnear, a hyperlocal fashion delivery app. However, it quickly pivoted to a Shopify-like digital storefront model after realizing that customers preferred choice over delivery speed. The breakthrough came when they discovered homemakers in Gujarat and Uttar Pradesh running informal boutiques on WhatsApp.
Business model
Meesho Supply: A marketplace for homegrown entrepreneurs
Spotting an opportunity, Aatrey and Barnwal launched Meesho Supply, a managed marketplace for these homegrown entrepreneurs. The orders started doubling every month, validating their model. They rebranded the platform as "Meesho," short for "Meri Shop," to empower small sellers, especially women, to create their own digital storefronts. This pivot turned into one of India's biggest internet success stories and now has made Aatrey a billionaire.