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WestBridge Capital to pick up secondary stake in Meesho at around $3 billion
Economic Times
·
1y ago
Medial
WestBridge Capital is set to acquire a small stake in Meesho, an Indian online commerce marketplace, in a secondary transaction. The deal values Meesho at around $3 billion. Venture Highway, an early investor in Meesho, is selling its stake to WestBridge Capital. WestBridge has previously funded technology companies like Freshworks and Dealshare. Meesho, backed by SoftBank, was last valued at nearly $5 billion in 2021. The funding round comes amidst a trend of late-stage startups engaging in secondary deals with investors.
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Meesho closes $550 million round; moves NCLT to shift domicile
Economic Times
·
6m ago
Medial
Ecommerce firm Meesho secured $550 million in a funding round, bringing in new investors like Tiger Global. The majority of the funding is secondary, with primary capital raised to cover tax costs related to a reverse merger of Meesho's India unit with its US parent, facilitating its planned IPO by 2026. Valued at around $3.9-4 billion, Meesho aims to file IPO papers by the second half of 2025, contingent on NCLT approval speed.
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Meesho in talks for secondary deal with Peak XV, Tiger Global at $3.5-3.9 billion value
Economic Times
·
1y ago
Medial
Peak XV Partners (formerly Sequoia Capital India) and Tiger Global are reportedly in discussions to acquire a stake in SoftBank-backed ecommerce firm Meesho in a secondary deal. Meesho's early investors and angel backers are expected to sell shares worth around $200 million at a valuation of $3.5-3.9 billion. While Peak XV is an existing investor, Tiger Global's potential participation is significant as it has been refraining from new investments in India. Meta, another existing investor, may also consider selling a part of its stake. Meesho's valuation is likely to be reduced by 20-30% as a result of this transaction.
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Venture Highway sells part of stake in Meesho to WestBridge Capital
Economic Times
·
1y ago
Medial
Venture Highway has sold a portion of its stake in Meesho, a social commerce platform, to WestBridge Capital. The financial terms of the transaction have not been disclosed. This move comes as Meesho is seeing rapid growth in its user base and revenue. Venture Highway is a seed-stage fund that invests in early-stage technology startups.
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Meesho picks MS, Kotak & Citi for $1 billion IPO; aims at $10 billion valuation
Business Today
·
5m ago
Medial
Meesho is gearing up for a $1 billion IPO, aspiring for a $10 billion valuation, with Morgan Stanley, Kotak Mahindra Capital, and Citi leading the process. The listing is anticipated by Diwali. Competing with Walmart’s Flipkart and Amazon, Meesho targets value-conscious users in Tier 3 regions. Previously valued at $3.9 billion, it’s supported by SoftBank. Comparatively, PhysicsWallah, Ather Energy, and Lenskart aim for higher valuations, unlike MobiKwik, Ola Electric, and Brainbees Solutions.
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Fidelity cuts fair value of Meesho, Pine Labs
Economic Times
·
1y ago
Medial
Fidelity's funds have lowered the valuations of Indian e-commerce marketplace Meesho and fintech company Pine Labs, according to filings with the US Securities and Exchange Commission. Meesho's fair value was reduced to around $4.1 billion from $5 billion in August, while Pine Labs' fair value was decreased to $3 billion from $4.7 billion. Investors often revise valuations based on changes in public market counterparts. Meesho's early investors and angel investors are reportedly looking to sell their stake at a valuation of $3-3.5 billion. Both companies saw narrowed losses and increased revenues for FY2023.
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Mars Growth to lead Meesho’s secondary round
The Arc Web
·
1y ago
Medial
Singapore's Mars Growth Capital is looking to acquire a stake in Meesho, an ecommerce platform. Through its Dragon Fund, Mars is expected to purchase the largest block of shares in the secondary deal. Existing investor, Peak XV Partners, is also planning to increase its stake through its growth fund. Other investors, including Meta, Venture Highway, and a group of angels, will sell their holdings in Meesho as part of the secondary round, which is estimated to be worth $200-250 million. Meesho reported profitability in Q3 2021, with a profit after tax of $7 million on revenues of $227 million.
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Meesho closes $275 million funding in first tranche, in talks for more
Economic Times
·
1y ago
Medial
Indian ecommerce firm Meesho has raised $275 million in a funding round that includes both primary and secondary share sales. The funding round is part of a larger $600 million round, which is expected to value Meesho at up to $3.9 billion. Meesho, which competes with Amazon India and Flipkart, plans to use the funds to support its growth and expansion. The company has raised a total of $1.36 billion since its inception in 2015. Meesho is also reportedly considering flipping its US parent company and potentially going public in India.
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WestBridge Capital buys majority stake in Tamil Nadu-based Kovai Pazhamudhir Nilayam
Money Control
·
2y ago
Medial
According to the article, WestBridge Capital has acquired a majority stake in Kovai Pazhamudhir Nilayam (KPN), a Tamil Nadu-based retail chain. KPN, known for its fresh produce and grocery offerings, operates multiple stores in the region. The investment from WestBridge Capital is expected to support KPN's expansion plans and enhance its presence in the retail market. The deal values KPN at Rs 800 crore, with WestBridge picking up a nearly 70 percent stake in an all-cash deal for about Rs 550-600 crore.
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Rapido goes past $1 billion GMV mark
Economic Times
·
1y ago
Medial
Indian ride-hailing platform Rapido has achieved a gross merchandise value (GMV) of $1bn, with expansion into segments such as cabs and auto-rickshaws driving its growth. Since 2020, Rapido has experienced over three times the growth, reaching a GMV of around $300m. It is also present in the parcel pick-up-and-drop segment. The company recently raised $120m in funding from WestBridge Capital, bringing its valuation to $1bn. Rapido aims to become profitable at an Ebitda level by the end of the fiscal year.
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Peak XV, Tiger Global Eyeing Stake In Meesho Via Secondary Transaction
Inc42
·
1y ago
Medial
Indian ecommerce startup Meesho is reportedly in talks for a secondary share sale that could value the company at $3.5bn to $3.9bn. Investors including Peak XV Partners (formerly Sequoia Capital India) and Tiger Global are said to be interested in acquiring a stake in Meesho. The company, which shifted its focus to become a marketplace, reported operating revenue of INR 5,735 crore ($762m) for FY23, a 77% increase from the previous year.
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