Meesho in talks to raise up to $130m from South Africa’s Naspers: Report

A logo sits on display inside the headquarters of Napsters Ltd., at the Media24 Ltd. office complex in Cape Town, South Africa. Photographer: Halden Krog/Bloomberg

Bengaluru-headquartered social commerce startup Meesho has held talks with South African internet group Naspers to raise $120-130 million in a fresh financing round, The Economic Times reported.

If the funding deal goes through, Meesho can see its valuation surge up to $600-650 million.

Earlier this week, Meesho raised $25 million from Facebook to ramp up its presence in India, which is considered one of the biggest internet markets globally. The investment from Facebook was likely a part of the larger capital raise.

Meesho has so far raised over $65 million in funding. Other investors in the startup include Sequoia Capital, SAIF Partners, Bain Capital, Shunwei Capital, DST Partners, and RPS Ventures.

Co-founded by two engineering graduates in 2015, the startup claims to connect about 2 million entrepreneurs typically catering to tier II and III cities across India. Of this, close to 80 per cent are first-time women entrepreneurs.

Meesho adopts a three-way marketplace connecting consumers, resellers, and suppliers.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.