SSENSE secures a minority investment from Sequoia Capital valuing the company at over $5 billion
PR89997
MONTREAL, June 9, 2021 /PRNewswire=KYODO JBN/ --
-- The partnership will accelerate global growth plans for SSENSE, the leading
platform for fashion and Everything Else(TM).
SSENSE, the global technology platform for fashion and Everything Else(TM),
announced today it has received a minority investment from leading investment
firm Sequoia Capital, giving the company a post-money enterprise value of over
CAD 5 billion.
Logo -
This is the first round of external funding in the company's 18-year history.
Proceeds from the transaction will be used to further accelerate the company's
global growth strategy. Following the transaction, Angelica Cheung, Venture
Partner for Sequoia Capital China, will join the SSENSE Board of Directors.
Rami Atallah, Co-founder & Chief Executive Officer of SSENSE said: "SSENSE was
founded on the principles of challenging convention and using our platform to
amplify the voices that are changing the way we see the world. I'm grateful to
be surrounded by a diverse, world-class team who continues to contribute to the
ongoing success of SSENSE. We've found a like-minded partner who shares our
belief in pushing boundaries as we advance in our next stages of growth.
Together, I'm confident we'll strengthen the strategic, operational, and
technological foundations to achieve our bold aspirations."
Neil Shen, Steward of Sequoia Capital, Founding and Managing Partner of Sequoia
Capital China said: "We are thrilled to become the first outside investor and
partner with SSENSE. Under the leadership of brothers Rami, Firas, and Bassel
Atallah, SSENSE has emerged as one of the leading online fashion platforms
connecting brands with Millennials and Gen Z consumers around the world.
Sequoia is excited to support SSENSE in its continued global expansion and
China acceleration. The partnership represents another solid step in our
efforts in supporting the fashion industry's digitalization, backing visionary
founders to transform and elevate the global fashion e-commerce experience to a
new level."
Rothschild & Co served as the exclusive financial advisor to SSENSE in the
transaction. Simpson Thacher & Bartlett LLP served as the legal advisor to
SSENSE.
ABOUT SSENSE
SSENSE (pronounced [es-uhns]) is a global technology platform operating at the
intersection of culture, community, and commerce. Co-founded in 2003 by
brothers Rami, Firas, and Bassel Atallah, and headquartered in Montreal, it
features a mix of established and emerging luxury brands across womenswear,
menswear, kidswear, and Everything Else(TM).
SSENSE has garnered critical acclaim as both an e-commerce engine and a
producer of cultural content. SSENSE generates an average of 100 million
monthly page views. Approximately 80% of its audience is between the ages of 18
to 40. It is privately held and has achieved high double digit annual growth
and profitability since its inception.
ABOUT SEQUOIA CHINA
The Sequoia team helps daring founders build legendary companies. In partnering
with Sequoia, companies benefit from our unmatched community and the lessons
we've learned over 49 years. As "The Entrepreneurs Behind the Entrepreneurs,"
Sequoia China focuses on three sectors: TMT, consumer/services and healthcare.
Over the past 16 years we've had the privilege of working with approximately
600 companies in China.
Contact:
Liela Toure
liela.toure@ssense.com
SOURCE: SSENSE
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。