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Fashion Giant Shein Raises $2 Billion But Lowers Valuation By A Third

PRIVATEMay 17, 2023

Amount Raised

$2 Billion

Round Type

Funding Round

SingaporeOtherSoftwareMobileConsumer GoodsApps

Description

Online fashion giant Shein raised $2 billion in its latest fundraising round that values the company at $66 billion, about a third less than a year earlier, the Wall Street Journal reported on Wednesday, citing people close to the company. Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 Stories

Company Information

Company

Shein

Location

Singapore, Southeast Asia, Singapore

About

The fast fashion e-commerce company that few in the tech industry had even heard of two years ago is aiming to raise $1 billion at a valuation of $100 billion. Last June, the company told us that its valuation was at the “billion-dollar level” as of its last funding round in 2020. The company counts Tiger Global, IDG and Sequoia among its existing investors. The company tests a great variety of cheap clothing in small batches, and if data shows that something is selling well, it quickly places more orders with these suppliers to sell even more. At the end of last year, Beijing proposed a deluge of regulations on overseas-listed Chinese firms, including one stipulating that a company whose main management mostly consists of Chinese nationals or executives who live in China, and its main business operating location is in China, must go through a filing process with China’s securities authority. Anecdotally, we’ve heard that some venture capital firms in China have begun offering citizenship applications as part of their post-investment service. Shein is in talks with General Atlantic for this new funding round, according to Bloomberg. According to app analytics firm Apptopia, Shein was the second most downloaded shopping app in the US last year after Amazon. Shein is not without challenges.

Fundz sees it the moment Shein raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.

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Predictive Intelligence
Strategic

ML-powered predictions for Shein's next move

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Shein raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

145 of these a day, filtered to the companies you pick, with the decision-maker attached.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.