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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.



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