This partnership will accelerate SSENSE’s global growth plan, The leading platform for fashion and everything elseTM value.
Montreal, June 8, 2021 /PRNewswire/- SSENSEGlobal technology platform for, fashion and everything elseTM value, Today announced that it has received a minority equity investment from leading investment company Sequoia Capital, making the company’s post-investment enterprise value more than 5 billion Canadian dollars.
This is the first round of external financing in the company’s 18-year history. The proceeds from the transaction will be used to further accelerate the company’s global growth strategy. After the transaction is completed, Zhang Danggui, Sequoia Capital China Venture Capital Partner, Will join the SSENSE board of directors.
Lamy Atla |, Co-founder and CEO of SSENSE Said: “SSENSE was founded on the principle of challenging tradition and using our platform to amplify the voice that changes the way we look at the world. I am very happy to be surrounded by a diverse world-class team, who continue to contribute to the continued success of SSENSE. We have found A like-minded partner, as we enter the next stage of growth, he shares with us the belief in pushing boundaries. I believe that we will jointly strengthen our strategic, operational and technological foundations to achieve our bold ambitions.”
Neil Shen, Steward of Sequoia Capital, Founding and Managing Partner of Sequoia Capital China Said: “We are very happy to be the first external investor and partner of SSENSE. In Rami, Firas and Basel Atlas, SSENSE has become one of the leading online fashion platforms connecting brands with global millennials and Gen Z consumers.Sequoia is pleased to support SSENSE’s continued global expansion and China Acceleration. This cooperation marks another solid step in our efforts to support the digitalization of the fashion industry and the visionary founders to transform and upgrade the global fashion e-commerce experience to a new level. “
Rothschild & Co acted as the exclusive financial advisor to SSENSE in the transaction. Simpson Thacher & Bartlett LLP served as legal counsel to SSENSE.
SSENSE (pronounced [es–uhns]) Is a global technology platform operating at the intersection of culture, community and business.Founded by brothers Rami, Firas and Firas in 2003 Basel Atlas,Headquartered in Montreal, It combines mature and emerging luxury brands of women’s wear, men’s wear, children’s wear and all other brandsTM value .
As an e-commerce engine and cultural content producer, SSENSE has won widespread praise. SSENSE generates an average of 100 million page views per month. Approximately 80% of the audience is between 18 and 40 years old. It is privately held and has achieved double-digit high annual growth rates and profitability since its establishment.
About Sequoia China
The Sequoia team helped bold founders build legendary companies. By working with Sequoia, the company can benefit from our unparalleled community and the lessons we have learned over 49 years. As the “entrepreneur behind the entrepreneur”, Sequoia China focuses on three areas: TMT, consumer/service and healthcare.In the past 16 years, we have had the privilege of working with approximately 600 companies China.
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