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Kul Bhushan · · 1 min readReport: Facebook-backed Indian social commerce firm in talks to raise $100m
“In just three months after its previous investment round, Meesho is back at fundraising, and this time with an aim to almost double its valuation,” Entrackr reported, citing sources aware of the details of the transaction.
Details:
- Meesho, an India-based social commerce platform, is reportedly seeking to raise more than US$100 million in a new round from two new investors and some of its existing backers.
- The company could achieve a valuation of US$3.5 billion to US$4 billion after the next fundraise, an almost twofold jump since the last round in April which valued the firm at US$2.1 billion.
Context:
- Facebook-backed Meesho became a unicorn in April this year after it secured US$300 million in funding led by SoftBank.
- Meesho is going up against Walmart’s Flipkart, which recently forayed into the social commerce space with Shopsy.
Editing by Collin Furtado and Jaclyn Tiu
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