Social commerce platform Meesho has recently raised funding of $ 275 million i.e. about Rs 2300 crore. This information has been obtained from the filing made by the company in the Securities and Exchange Commission (SEC). The funding is part of an ongoing funding round from existing investors like SoftBank, Prosus, Elevation Capital and Peak XV Partners.
After the latest funding, Meesho’s valuation has now reached $3.9 billion. According to news agency IANS, the size of this funding round may increase from $ 500-600 million. That means the company plans to raise more funding under the current round. Let us tell you that currently this e-commerce platform has investors like Meta, Peak XV, Prosus Ventures, B Capital and SoftBank. The current GMV run rate of the company is more than $5 billion.
Valuation had reduced in January itself
Global investment firm Fidelity has reduced the valuation of its stake in social commerce platform Meesho to $3.5 billion. Fidelity recently reduced Meesho’s valuation from $5 billion to $4.1 billion in a regulatory filing with the US Securities and Exchange Commission (SEC).
The company is in profit
The company has been profitable since July 2023 and remains cash flow positive. Let us tell you that in the last financial year the company has registered a reduction of 48 percent in its losses. Also, the company has registered a growth of 77 percent in revenue on year-on-year basis and the company’s earnings have been Rs 5,735 crore. The company plans to expand its business rapidly, due to which the company is also planning to enter new domains. Under this, the company can start a financial services platform and expand its grocery delivery operations.
