dhiresh bansal cfo meeshonew delhi ecommerce startup meesho claims to have reduced its cash burn by 90 per cent between january to december 2022 the statement comes on the backdrop of meeshos recent regulatory filings according to which the company reported a 75 times jump in its losses to rs 3247 crore in fy 2022 on the contrary the etailers revenue increased 45 times to rs 3232 crore during the period in review from rs 792 crore in fy21 meesho has said in the past that the company aims to achieve profitability by mid2023 with recently reported high losses the companys strategy came into focus advt meesho losses surge more than 6x to rs 3247 crore in fy22 as advertising and other expenses riseunlike the big ecommerce players meesho does not charge sellers a commission on the sale of merchandise it makes money by charging an advertising feesee more detailstalking to etretail on meeshos high expenses its cfo dhiresh bansal said fy 2022 was a big phase of investment to move from a reseller only to a reseller plus platform and acquire new customers he shared that from junejuly 2021 meesho which was a social commerce platform selling to resellers restructured its business to sell directly to consumers this shift in business model required investment in the form of customer acquisitionhe highlighted that over the last two years meesho has increased its gross merchandise value gmv of goods sold on the platform by 25 times to 5 billion dollars from 200 million dollars the point that whether customer acquisition is an investment or a cost reflects in whether our customers come back to shop from us bansal commented adding that meeshos repeat customers are very high he claimed that almost 85 per cent of the companys gmv comes from consumers acquired in past cohortscurrently he shared that meeshos customer acquisition cost is relatively the lowest in the industry as per industry standards for horizontal ecommerce players the acquisition cost per customer is in the range of rs 120 to rs 150 while this cost goes as high as rs 300 per customer for vertical ecommerce platforms meesho claims to have cost closer to the lower end of the horizontal ecommerce range advt meesho ramped up its efforts last year as it challenged ecommerce giants amazon india and flipkart as per a red seer report released in october last year meesho overtook amazon with the secondhighest number of orders during the first two weeks of festive season sales 2023 a peek into indias evolving ecommerce market2022 saw some significant changes in the ecommerce ecosystem in india the industry primarily dominated by the two big wigs of ecommerce amazon and flipkart saw growing competition from giant conglomerates such as jiomart and tata digital and startups like nykaa meesho udaan and dealshare further the launch of statebacked ondc created waves of disruption in the established ecommerce market last year also saw ecommerce players refocusing their strategies to tap the next