Shein raised a $2B funding round.

Shein raised a $2B funding round 

The round reduced Shein's valuation by a third of what it was in 2022.

  • The funding round valued Shein at $66B, down from $100B last year. 
  • The round was led by Sequoia Capital, General Atlantic, and Mubadala, the U.A.E.'s sovereign-wealth fund.
  • Shein's labor practices and supply chain are facing scrutiny from U.S. regulators.
  • U.S. authorities are cracking down on Chinese firms amid rising tensions between Washington and Beijing.

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