Fidelity invested around $42 million in Meesho’s Series F round in October 2021. In Pine Labs, Fidelity's latest round was in July 2021 when the Singapore-registered company raised $600 million. US-Based Investments Firm Fidelity Cuts Down Valuation of Pine Labs to 'USD 3 Billion From USD 4.7 Billion' and Meesho to 'USD 4.1 Billion From USD 5 Billion'.
Sharing numbers for December 2023, the report said that Meesho exhibited 32 per cent YoY growth in monthly active users, compared to its counterparts Flipkart and Amazon at 21 and 13 per cent, respectively.
Fidelity has cut Meesho’s valuation from $5 billion earlier to $4.1 billion. Pine Labs, Fidelity said, was valued at $3 billion down from $4.7 billion previously
As per the filings, Fidelity s funds have set Meeshos fair value at around $4.1 billion as of October 31, 2023, down from around $5 billion as of end-August. Meesho was last valued at $4.9 billion after raising $570 million in 2021.