🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Social commerce platform Meesho raises $275 million

Published 11-05-2024, 05:57 pm
© Reuters.  Social commerce platform Meesho raises $275 million

New Delhi, May 11 (IANS) Social commerce platform Meesho has raised $275 million, a regulatory filing by the company with the Securities and Exchange Commission (SEC) in the US has revealed.The fundraising, part of an ongoing round, came from existing investors like SoftBank, Prosus, Elevation Capital and Peak XV Partners.

The latest funding valued Meesho at $3.9 billion. Meesho may increase the ongoing round size to $500-600 million, according to reports.

The SEC regulatory filing also indicated a share transfer at Meesho’s US parent firm.

The company did not divulge much information about further details about share transfer.

In January this year, global investment firm Fidelity had marked down the value of its holding in social commerce platform Meesho, to $3.5 billion.

The e-commerce platform has Meta (NASDAQ:META), Peak XV, Prosus Ventures, B Capital, and SoftBank among its investors.

Its current gross merchandise value (GMV) run rate is over $5 billion, according to reports.

--IANS

na/uk

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.