Facebook provided $25m for the social commerce marketplace as part of a Naspers-led round that has been set to value it at up to $650m.
Media and e-commerce group Naspers confirmed today it has led a $125m funding round for India-based social commerce marketplace Meesho that included social media operator Facebook.
Growth equity firm SAIF Partners, venture capital firms Sequoia Capital, Shunwei Capital, RPS Ventures and Venture Highway also contributed to the round along with private investor Arun Sarin. It lifted the company’s overall funding to about $190m.
The Economic Times reported in June this year that Meesho had entered discussions with Naspers over a $120m round that was expected to value it at between $600m and $650m.
Meesho has built an online platform where businesses can link up with a network of 2 million independent resellers who can distribute their products to their social circle. It has resellers present in some 700 Indian towns and cities and will use the cash to expand further into rural areas.
Facebook invested a reported $25m through the…
