Late last year, my colleague Maanav mentioned that he had met this amazing team at YellowClass who were doing interactive online hobby classes for kids, had an overwhelmingly positive response, and that I might want to check that out.
In August 2016, we were fortunate to have led the seed round in Meesho.
Today, Meesho announced a $300MN fundraise led by SoftBank with participation from some of it’s existing investors including Facebook and Prosus (previously Naspers). This round values the company at $2.1BN.
Here is an article that we wrote in 2017 on why we invested in Meesho
Why is “neo-banking” for kids an underserved market and a long-term opportunity FamPay is building a neobank for teenagers — having initially launched an app-based smart prepaid card They make it incredibly easy for parents, from anywhere in the world to send pocket money to their kids, without opening a bank account for them, giving […]
After misplaced optimism (which led to first wave of hyperlocal startups shutting down), the space is picking up steam again with even likes of Amazon, Jio, Flipkart joining in.
But unit economics still remain a challenge in these models.