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Meesho, India’s largest reselling web site, has negotiated a $250 million funding spherical led by SoftBank’s Imaginative and prescient Fund, the Financial Occasions has reported.
The spherical, if accomplished, will worth Meesho at between $1.5bn and $1.8bn, making it India’s fortieth tech “unicorn” firm – that’s, a privately-backed enterprise value a billion {dollars} or extra. Its earlier spherical, a Collection D accomplished in August 2019, raised $125m from South African Web retailers Naspers and social media big Fb.
Meesho at the moment claims 70m clients and 10m resellers on its website, which was based in 2015 in Bengaluru, broadly acknowledged as India’s tech capital. Final yr its income leapt virtually fourfold to $42m.
Regardless of heavy competitors from the likes of Dealshare and Glowroad, Meesho has maintained its primary spot in India’s social commerce sector. The business is anticipated to succeed in a price of as much as $70bn by 2030 in accordance with Bain & Firm, a advisor.
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