SoftBank Could Back Meesho With $200 Mn Big Funding Round

Softbank Eyes Social Commerce Startup Meesho, May Invest $200 Mn

SUMMARY

Facebook invested around $25 Mn in Meesho recently

The $100 Bn SoftBank Vision Fund is expected to invest $2 Bn - $4 Bn in India over the next two years

SoftBank may also be considering a change in its India investment strategy

After piling up its portfolio with top Indian startups in almost every sector, SoftBank seems to be eyeing Bengaluru-based Meesho. The Japanese conglomerate is reportedly looking to invest $200 Mn in the social commerce startup as part of its next funding round. Meesho recently gained attention as Facebook invested around $25 Mn in the company.

Meesho is an online reseller network for individuals and SMBs, who sell products within their network on social channels such as WhatsApp, Facebook, and Instagram. The company has so far raised a total of $90.2 Mn since its launch in 2015 by IIT graduates Vidit Aatrey and Sanjeev Barnwal. The social commerce startup claims to have more than 15K suppliers and 2 Mn resellers across India.