New Delhi: Meesho Social Trade Startup is completing the financing round of nearly $ 1 billion that might take a rating of around $ 8 billion, three people who know about the problem to Ti.
The latest talk about the increase in funds emerged after the assessment of the company headquartered in the center of Bengaluru doubled two to $ 4.9 billion in September, when investors were led by US asset managers Fidelity and B Capital pumped in $ 570 million.
Social trade uses online platforms such as Facebook, WhatsApp and Instagram to promote and sell products & services.
In April, Meesho was valued at $ 2.1 billion, when they raised $ 300 million from the Softbank vision fund.
The new round can be completed in January.
A questionnaire emailed to spokesman Meesho did not cause a response until he went to the press.
“The company has doubled since its last fund round.
If they get numbers correctly, the assessment may increase by more than $ 8 billion to more than $ 9 billion,” said a senior industry executive.
MeeSho recorded the value of gross merchandise (GMV) of around $ 5 billion in January-October, which doubled what he did in January-July, said the source.
In comparison, Bernstein’s wealth management company said in a recent report Flipkart, not including the MYNTRA e-tailer mode, recorded a GMV of around $ 12.5 billion in the calendar in 2020, while the Indian Amazon competitor followed with GMV $ 11.5 billion During this period.
MeeSHO, who has been a leading player in the social trading room, offers its platform to small businesses that are mostly led by women for sale on Facebook and WhatsApp.
It competes with people like dealshare and citymall operating through community-based models.
In July, Flipkart owned by Walmart also entered the room by turning into 25 million entrepreneurs on his platform in 2023.
Meesho said he wanted to activate 100 million entrepreneurs in several categories for sale on the platform.
Starting in 2015 by Vidit Aatrey and Sanjeev Barnwal, the company entered this year’s online grocaire through Pharmiso, which has complained directly to people such as Bigbasket, Grofers and horizontal e-commerce players such as Amazon and Flipkart.
It builds the logistics supply chain that will offer the lowest cost services throughout India, said Meesho on its website.
The company witnessed more than 57 million downloads throughout the App Store and the Google Play Store from August to October, 2021, according to the Annie app, making it the most downloaded application in all categories in India, he said.