Fidelity decreases Meesho valuation to $3.5 billion

• ByStartupStory     |    January 30, 2024

Global investment firm Fidelity has once again revised down the valuation of its stake in the social commerce platform Meesho, marking it at $3.5 billion as of the latest adjustment.

“Fidelity had recently cut the valuation of Meesho to $4.1 billion from $5 billion, as indicated in a regulatory filing with the US’ Securities and Exchange Commission (SEC),” reported sources.

The recent valuation adjustment follows a secondary sale transaction that took place late last year, which valued Meesho at $3.5 billion.

“Based on Fidelity filings, the number of shares held and the current number of total outstanding fully diluted shares, the valuation is assessed at $3.5 billion,” stated a spokesperson for Fidelity.

“The increase in the number of outstanding shares, notably due to the ESOP pool expansion, could have contributed to this valuation shift,” the spokesperson added.

Meesho, with investors including Meta, Peak XV, Prosus Ventures, B Capital, and SoftBank, currently boasts a gross merchandise value (GMV) run rate exceeding $5 billion.

“Fidelity invested around $42 million in Meesho’s Series F round in October 2021,” disclosed reports regarding Fidelity’s previous involvement.

“In Pine Labs, Fidelity’s latest round was in July 2021 when the Singapore-registered company raised $600 million,” highlighting Fidelity’s diverse investment portfolio.

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