Meesho IPO: Another company with new age and new style business is preparing to bring its IPO. Startup company Meesho is preparing to raise funds by bringing IPO. The company is funded by Facebook’s parent company Meta Platforms and Softback Group’s Vision Fund 2. According to a Reuters report, Meesho’s IPO may come in early 2023.
According to a Reuters report, this social commerce platform of Bengaluru may be listed in late 2022 or early 2023. The company is exploring the possibility of listing in both the Indian and American markets.
Also read- LIC IPO: Big statement of DIPAM secretary, government will decide only after keeping in mind the interests of investors
In September this year, Meesho raised $57 million in a Series F funding round. The company raised this money at a valuation of $4.9 billion. The fund was raised by Meesho, led by Fidelity Management and Research Company and B Capital Group.
Users can sell products through WhatsApp, Facebook and Instagram by buying from supplier market place, taking their profit margin. A source on the condition of anonymity said, “Meesho is likely to issue applications for the issue by January next year. The issue of the company may come by the middle of 2023.
Also read- Work on fund raising plan for VIL’s rejuvenation continues, Vodafone preparing to invest Rs 3375 crore
Facebook invested in Meesho in June 2019
However, there has been no response to the email sent to the company in this matter. Meesho hired Dhiresh Bansal, a former investment banker at JP Morgan Chase, as chief financial officer in November 2021. Sources said that before the IPO of the startup, the responsibility of correcting its books has been given to Bansal.
Meesho was started in 2015 by IIT graduates Vidit Atreyi and Sanjeev Barnal. Meesho also provides logistics and payment tools to the sellers. Facebook invested in Meesho in June 2019. This is the first Indian startup to take funds from this Silicon Valley giant tech company. Prosus Ventures and Sequoia Capital have also invested in the company.
Tags: Facebook, IPO, Share market, IPO
Read Article in हिन्दी