Jing Yang / Wall Street Journal:
Sources: Shein raised $2B at a $66B valuation, down from ~$100B in 2022, co-led by Sequoia, General Atlantic, and Mubadala; Shein generated $23B in 2022 revenue — Online retailer made $800 million net profit in 2022 and is targeting 40% growth, but faces geopolitical headwinds and rising competition