Fidelity further marks down Meesho's valuation to $3.5 billion
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Fidelity had recently cut the valuation of Meesho to $4.1 billion from $5 billion, in a regulatory filing with the US' Securities and Exchange Commission (SEC).
"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," a company spokesperson said in a statement.
"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 has Meta,
According to reports, its current gross merchandise value (GMV) run rate is over $5 billion.
Fidelity invested around $42 million in Meesho's Series F round in October 2021. In Pine Labs, Fidelity's latest round was in July 2021 when the Singapore-registered company raised $600 million.
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