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Shein raises $2 billion, valuation lowered by a third: Report
short by Aishwarya Awasthi / on Wednesday, 17 May, 2023
Shein has raised $2 billion in a fundraising round which valued it at $66 billion, about a third less than a year earlier, the WSJ reported citing sources. The firm recorded revenue of $23 billion last year, while its net profit was $800 million. Shein's shares have reportedly come under heavy selling pressure.
read more at Reuters