Facebook backs social commerce startup Meesho
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Startup Funding News: Facebook investing in Meesho
Courtesy TechCrunch: Click here to read the full news
As Facebook explores ways to generate revenue from WhatsApp, the company is now turning to a startup that already has a lead. The social juggernaut said today it has invested in social-commerce startup Meesho in what is the first time the firm takes equity in an Indian startup.
Neither Facebook nor Meesho, which prior to this announcement had raised about $65 million from a number of investors, including DST Partners, RPS Ventures and Shunwei Capital, shared financial terms of the deal. A source familiar with the matter told TechCrunch that the capital was “very significant.”
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