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Fidelity cuts Meta-backed Meesho valuation to $3.5 billion

Fidelity has cut the value of its holding in Meesho by 33.6% since the original investment, giving the Indian social commerce startup a valuation of $3.5 Fidelity has cut the value of its holding in Meesho, knocking off the valuation of the startup to $3.5 billion.

Fidelity has cut the value of its holding in Meesho by 33.6% since the original investment, giving the Indian social commerce startup a valuation of $3.5 billion, adjusted for outstanding shares. In a statement to TechCrunch, a Meesho spokesperson said: “Funds attribute value to their portfolio investments, considering various factors such as the valuation of comparable companies. It’s also looking to expand into new areas — planning to build a financial services platform and scale its grocery delivery business, Indian daily Economic Times reported Tuesday.

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