News Summary

• Meesho, an Indian e-commerce rival to Amazon and Walmart-owned Flipkart, is set to launch a roughly $606 million IPO.
• Some of Meesho’s early shareholders are selling in the IPO, with Elevation Capital offloading just over 4% of its stake.
• Larger backers — including SoftBank, Prosus, and Fidelity — are not selling any shares.
• The Bengaluru-based company uses a commission-light model, earning primarily from logistics fees, advertising, and other services.