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.
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