Monday, April 15, 2024
Outlook India
Outlook Business

Meesho News

According to a report by TechCrunch the recent valuation adjustment is a result of a secondary sale transaction late last year, valuing Meesho at $3.5 billion

In September 2021, Fidelity spearheaded a $570 million funding round for Meesho, joined by B Capital Group, a venture capital firm co-founded by Facebook co-founder Eduardo Luiz Saverin.

Meesho had posted a 77 per cent increase in revenue from operations at Rs 5,735 crore in the previous financial year

A recent report by the market research firm projects online sales during the upcoming festive season to grow by 18-20 per cent and touch Rs 90,000 crore this year

The aspirational goal marks a remarkable ten-fold expansion of Meesho’s current seller base of 1.3 million

The company is backed by the Masayoshi Son-led Japanese conglomerate SoftBank