Retail

Meesho in talks to raise $50 million from Apoletto Asia, others


NEW DELHI & MUMBAI: Social commerce marketplace Meesho is in advanced talks to raise $40-50 million in funding led by Apoletto Asia, the personal investment vehicle of DST Global’s Russian billionaire founder Yuri Milner and other partners at the firm.

The funding round, which is also likely to see existing investors including Sequoia India, Y Combinator and SAIF Partners participate, will value Meesho at around $250 million, according to three people aware of the discussions.

The talks come less than four months after Meesho raised $11.5 million in a round led by Sequoia India in June. Some of Meesho’s angel investors are expected to sell their investments in the upcoming investment round. The three-yearold firm connects suppliers with re-sellers including college students and homemakers, enabling them to sell goods in their social circles via Facebook, Whatsapp, Instagram and other social media, as also their own web stores.

Aatrey declined to comment on any investment talks by the firm. DST Global did not respond to queries from ET.





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