Fidelity cuts Meta-backed Meesho valuation to $3.5 billion
Fidelity marks down its Meesho holding by 33.6%, implying a $3.5 billion valuation for the Indian social commerce startup. The asset manager values its stake at $27.8 million at December’s end, down from the $41.9 million invested in 2022; its October valuation was $4.1 billion. The adjustment follows a secondary sale to WestBridge Capital at a $3.5 billion valuation, and Meesho says its expanded ESOP pool may contribute to the shift.
Jan 2024 · TechCrunchNews article
WestBridge evaluates buying stake in India’s Meesho at a discount
WestBridge Capital is in advanced talks to buy Meesho shares worth at least tens of millions in the secondary market, according to two people familiar with the matter. The proposed stake purchase is at a discount, and the venture firm is looking to broaden its bet on e-commerce.
Sep 2023 · TechCrunchNews article
WestBridge evaluates buying stake in Meesho at a discount
WestBridge Capital is in advanced talks to purchase tens of millions of dollars’ worth of Meesho shares in the secondary market, according to two people familiar with the matter. The potential stake purchase is at a discount, as the venture firm looks to broaden its bet on e-commerce.