SoftBank-backed Indian e-commerce firm Meesho is focusing on artificial intelligence and new business lines to grow its user base and move towards profitability. Seeking a $5.6 billion valuation through its IPO, the company competes with Amazon and Flipkart in India’s online retail market projected to reach $170-$190 billion by 2030.

Meesho’s three-day share sale begins on December 3, with shares set to debut on India’s main stock exchanges on December 10. The company differentiates itself by offering low-priced products without charging sellers a commission, a strategy it plans to continue.

Investing in chat and voice-based AI agents, Meesho aims to make shopping easier for first-time users, especially in smaller towns and rural areas. The company also plans to heavily invest in technology and marketing to grow its user base, including scaling up its logistics aggregator platform, Valmo, to reduce delivery costs.

In addition to technology, Meesho is looking to integrate financial services like buy-now-pay-later options and short-term credit facilities for sellers. The company sees financial services as a significant long-term opportunity and is exploring a potential expansion into the competitive grocery segment in Indian e-commerce.

Meesho’s revenue grew 29.4% to 55.78 billion rupees in the first half of fiscal 2026, with losses narrowing by 72.1% to 7 billion rupees, according to its IPO prospectus. The company is focused on growth and innovation to solidify its position in the evolving Indian e-commerce landscape.

Read more at Yahoo Finance: Indian e-commerce firm Meesho leans on AI, new business lines to drive growth