Meesho, an online platform for fashion, has no current intentions to raise money. Vidit Aatrey, the CEO and co-founder of the business, said that they have enough of cash on hand. He asserted that Mesho does not now require raising money in any round, despite the difficulties that many entrepreneurs face during the funding winter. Meesho has increased significantly in 2021! Nonetheless, the following round of capital might come via an IPO.
Aatrey said, “We are glad that we raised a significant amount of money in 2021, far more than we needed.”
According to him, the company currently has no intentions to raise capital because it already has more than enough in the bank to sustain itself for many years without needing to do so.
Meesho last held a fundraising event in September of 2021, which was 15 months ago. The company raised $570 million in this month’s series F funding round, which was organised by Fidelity Investments and B Capital Group. Previously, SoftBank Vision Fund led a $300 million series E fundraising round for the business, which got the money.
The co-founder stated that there is a good chance the following round of fundraising, should Meesho decide to raise money in the future, would be an initial public offering (IPO). He said that the business will be prepared for an IPO once it achieves profitability.
Meesho reportedly found it difficult to raise its next round of investment, particularly for late-stage projects, during funding winter. Aatrey responded by telling BT that these are “undeterred.” He asserted that Meesho doesn’t need to raise a round at this time.
Meesho’s IPO has been a topic of discussion for a while now.
At the company’s town hall meeting in September of last year, Aatrey stated that Meesho is trying to become Ebitda-positive by mid-2023 before going public. The meeting’s recording, which VCCircle was able to secure, revealed determined efforts to boost Ebitda.
Aatrey was also believed to be thinking of a dual listing, similar to Infosys and HDFC, who are both listed in the US and India.
Some of the biggest investors in Meesho are SoftBank and Meta Platforms, formerly Facebook.
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