Meesho's fair value cut by 9.7% to $4.4 bn by Fidelity: Reports

Fidelity Investments has reduced Meesho's fair value by 9.7%, effectively valuing the e-commerce startup at $4.4 billion, as per reports. The US-based asset management company, which holds shares in Meesho through multiple funds, reportedly revealed the markdown in the latest filings of these funds. Meesho raised $570 million from Fidelity and other investors in 2021 at $4.9 billion valuation.