- Meesho operates a market that connects sellers and suppliers with prospects on social media platforms.
By Anuj Suvarna, Madhurima Nandy, Bengaluru
PUBLISHED ON OCT 01, 2021 05:24 AM IST
Social commerce platform Meesho has raised $570 million in a fundraising led by Constancy Administration and Analysis and Fb co-founder Eduardo Saverin’s B Capital Group, greater than doubling the startup’s valuation to $4.9 billion.
Present buyers Prosus Ventures, SoftBank Imaginative and prescient Fund 2 and Fb additionally participated within the spherical. New buyers who participated embrace Footpath Ventures, Trifecta Capital and Good Capital.
In April, Meesho turned a unicorn, or an organization valued at greater than $1 billion, after elevating $300 million led by Japan’s SoftBank Group Corp. On the time, it was valued at $2.1 billion, a threefold bounce from its 2019 valuation of $700 million when it raised $125 million.
Meesho operates a market that connects sellers and suppliers with prospects on social media platforms.
Social commerce is rising quickly in India, led by an increase within the reputation of platforms comparable to Fb and WhatsApp. This 12 months, e-commerce main Flipkart entered this class with its Shopsy app.
Vidit Aatrey, chief government of Meesho, mentioned the corporate will double down on product and expertise capabilities following the most recent fundraise.
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