Fidelity slashes valuations of Pine Labs, Meesho again

Global investor Fidelity has marked down the fair value of online shopping platform Meesho to around USD 4.1 Billion as on 31 October 2023, from around USD 5 Billion two months earlier.Payment services provider Pine Labs’ fair value was also cut to USD 3 Billion from USD 4.7 Billion as on 31 August 2023. The Peak XV-backed firm was valued at over USD 5 Billion after it raised USD 150 million in 2022.