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As per the filings, Fidelity's funds have set Meeshos fair value at around $4.1 billion as of October 31, 2023, down from around $5 billion as of end-August. Meesho was last valued at $4.9 billion after raising $570 million in 2021.
Food delivery aggregator Swiggy is testing a potential doubling of its platform fee from ₹5 to ₹10 per food order as it prepares for its upcoming IPO.
Kiran Thadimarri, group finance controller, will be elevated to the executive management team. Further, Vishnu Menon, head - corporate strategy & investor relations, has been given additional charge of business finance.
BigBaskets BB Now, Zepto, Blinkit, and Swiggy Instamart capitalised on the event by promoting the sale of items such as lamps, flowers, incense sticks, coconuts and sweets with the introduction of a separate category for these products on their apps.
After an expected spurt during the festive season, ecommerce sales saw a larger-than-usual dip in December. This and more in todays ETtech Morning Dispatch.