Google is in negotiations with Meesho about financing, while Indians are doubling down on cryptocurrency.
Google is in negotiations with social commerce platform Meesho for a $50-75 million investment after previously investing in six Indian companies this year.
Also included in this letter:
- Indian investors are increasing their bets as Bitcoin prices rise again.
- Nykaa will go public next week.
- From January, Google will reduce its Play Store fee to 15%.
Meesho, a social commerce company, is in negotiations with Google for funding.
According to reports, Google is discussing investing $50-$75 million in social commerce company Meesho.
Details: The investment is part of Meesho’s last funding round, which places the Bengaluru-based company at a valuation of $4.9 billion. Meesho received $570 million from US asset management Fidelity and Eduardo Saverin’s B Capital in September. The round will now be worth over $600 million, thanks to Google’s participation.
Meesho has secured over $900 million in funding this year, including $300 million from SoftBank Vision Fund II in April.
Taking on the eCommerce behemoths: Meesho plans to utilize the new funding to build a consumer-facing eCommerce business that can compete effectively with Amazon India and Walmart-owned Flipkart.
Google’s India investments are as follows: The internet search giant has already invested in Indian companies such as Dunzo, a hyperlocal delivery service, and InMobi’s Glance, a lock screen platform. Simsim, a video social commerce business, was bought by Google’s YouTube video-sharing platform in July.
Subscribe for newsletter
* You will receive the latest news and updates on your favorite celebrities!
Healthy meals to put in your sargi thali for Karwa Chauth
2021 Karwa Chauth: The Karwa Chauth countdown has begun. In less than three days, on October 24, married ladies who…
Moms and kids may benefit from these healthy eating suggestions.
“There will never be a perfect diet.” There is no one-size-fits-all definition of a healthy diet since each person’s nutritional…