Real change in value only about 6%, it's par for the course: Meesho CFO

Bansal also said the company was aiming to be profitable within the current fiscal year (FY24) on net profit basis

The markdown in valuation of homegrown e-commerce marketplace, Meesho, was “par for the course” given the trend in the e-commerce industry, Chief Financial Officer, Dhiresh Bansal, said.

The comment was in response to queries on a cut in valuation by Fidelity Investments, a prominent investor in the company. According to regulatory filings with the US Securities and Exchange (SEC), the investment firm has marked down Meesho’s valuation by 9.7 per cent to $4.4 billion as of March 31.

Meesho’s last fundraise of $570 million was in September 2021 at a valuation of $4.9 billion. It was led by Fidelity and