Fidelity further cuts Meesho’s valuation

New Delhi: Global investment firm Fidelity has further marked down the value of its holding in social commerce platform Meesho, to $3.5 billion.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).

According to TechCrunch, the latest valuation adjustment follows a secondary sale transaction late last year. That sale valued Meesho at $3.5 billion. “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.