Stock Expert Highlights Rs 480 Crore AI Salary Needs at Meesho

A stock expert has stirred significant conversation online by revealing that the Indian e-commerce platform, Meesho, requires over Rs 480 Crore to cover salaries for its artificial intelligence (AI) team. The commentary from analyst Parth Goyal quickly gained traction on social media, prompting discussions about the company’s financial commitments to its technology sector.

Goyal initially shared an Excel sheet detailing Meesho’s financial needs on X (formerly Twitter), humorously stating, “Meesho ko 480 crore chahiye to pay salaries of their machine learning and AI team. Wah bete mauj kardi.” His remarks highlighted the growing financial pressures faced by tech companies as they strive to attract top talent.

In a subsequent tweet, Goyal responded to a request to delete his initial post by emphasizing his principles over financial incentives. He stated, “Let the truth prevail. Self-respect over money any day.” Goyal then shared a screenshot of a conversation in which he declined to remove his tweet, expressing that it conflicted with his ethical standards.

Reactions to Goyal’s posts have been mixed. Some users praised him for his integrity, with one commenting, “Bravo, now we can count on you as an ‘Honest and fearless’ social media influencer.” Others suggested that his comments were more about gaining social media visibility than genuine ethical concerns. One user remarked, “It’s money over money,” while another critiqued his stance as “publicizing your ethical act is an oxymoron.”

As the discussions unfolded, it became clear that Goyal’s comments were not just about Meesho’s financial needs but also reflected broader issues regarding corporate ethics and personal integrity in an age dominated by social media.

Meesho’s Upcoming IPO

In a related development, Meesho is preparing for a significant initial public offering (IPO), slated for December 10, 2023. The company aims to raise approximately Rs 5,421.2 Crore through the issuance of new shares and an offer for sale, where existing investors will liquidate some of their holdings. The share price is expected to be set between Rs 105 and Rs 111.

If the IPO proceeds as planned, the allotment process will take place on December 8, marking a pivotal moment for Meesho as it seeks to solidify its financial foundation and expand its operations in a competitive market. This IPO could potentially transform the company’s structure, enabling it to invest further in technology, including its AI initiatives.

As Meesho gears up for this crucial phase, the financial implications of its AI salaries, as highlighted by Goyal, may play a role in shaping public perception and investor confidence. The interplay between ethical considerations and corporate financial strategies remains a focal point in the evolving landscape of tech-driven businesses.