Chinese e-commerce firm Shein has hit a $100 billion valuation after its latest funding round, according to sources reported by the Wall Street Journal.
The funding round, which reportedly closed last week, was worth between $1 billion to $2 billion.
The round was led by private equity firm General Atlantic according to the sources and included existing Shein investors Tiger Global Management and Sequioa Capital.
The online retailer was founded in 2008 in Nanjing, China and made an estimated $10 billion in 2020 according to an estimate by Coresight Research.
Shein was second most downloaded shopping app worldwide in 2021 according to research compiled by analytics firm Apptopia.
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Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
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