THE valuation of Meesho, the Indian e-commerce rival of retail giant Amazon, more than doubled last year to US$5bil (RM22bil), after marquee investors such as SoftBank and Fidelity pumped in hundreds of millions of dollars.
They aimed to ride a boom in India’s tech startups, which raised a record US$35bil (RM154bil) in new funds in 2021, but the tide has since turned, as corporate governance concerns loom large for investors facing a new uncertainty in global markets.
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