Meesho looks at fund raise $1bn at valuation of $8bn

22 November 2021, Mumbai:

Social commerce startup Meesho is finalising a financing round of nearly $1 billion that may take its valuation to around $8 billion, three people in know of the matter told TOI.

The latest talk of a fund-raise comes after the Bengaluru-headquartered company's valuation doubled to $4.9 billion in September, when investors led by US asset manager Fidelity and B Capital pumped in $570 million. Social commerce uses online platforms such as Facebook, WhatsApp and Instagram to promote and sell products & services.

In April, Meesho was valued at $2.1 billion, when it raised $300 million from SoftBank's Vision Fund. The new round may get finalised in January.

TOI

(The news article has not been edited by DFU PUBLICATIONS STAFF)

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