Fidelity slashes Meesho’s valuation further to $3.5 B

US-based asset management company Fidelity has further marked down the valuation of online shopping site Meesho on its book, valuing the firm at USD 3.5 Billion. This marks a decline of 29% from Fidelity’s peak valuation of USD 4.9 Billion for Meesho.Fidelity had cut down Meesho’s fair value to around USD 4.1 Billion as on October 31, 2023. It had originally invested in Meesho in September 2021 in a funding round that had valued the firm at USD 4.9 Billion.