Meesho aims IPO by January 2023

• ByStartupStory     |    March 5, 2022

Meesho is filing documents by January next year and wants to essentially be done with the IPO by the first half of 2023 Meesho’s CFO, Dhiresh Bansal, to oversee the task of ‘getting books in order and plug any gaps in the finances’ Founded in 2015 by IIT-Delhi graduates Vidit Aatrey and Sanjeev Barnwal, Meesho is a social commerce startup that allows resellers to sell a variety of unbranded products on its platform.which counts Facebook-owner Meta Platforms and SoftBank Group’s Vision Fund 2 as its investors, is aiming to go public in early 2023, a source familiar with the matter told Reuters.

The Bengaluru-based social commerce platform is working to be ready for a listing by the end of 2022 and is evaluating both Indian and US exchanges, according to an internal document seen by Reuters.

In September, Meesho raised $570 million at a valuation of $4.9 billion in a Series F funding round led by Fidelity Management & Research Company and B Capital Group.

Users can resell products from the supplier marketplace for a profit margin to customers, largely through Meta-owned platforms WhatsApp, Facebook and Instagram. Meesho had 17.8 million monthly transacting users on its platform as of September, surging from 5.5 million in March. Meesho also provides logistics and payment tools to sellers.

Facebook’s investment in Meesho in June 2019 was the Silicon Valley giant’s first equity investment in an Indian startup. The startup also counts Prosus Ventures and Sequoia Capital among its investors.

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