Shein valued at $26bn in IPO at a quarter of its peak

The company announced a quarterly net loss of $99m in its last pre-IPO disclosure in July.

Chinese e-commerce giant Shein just went public, raising $1.7bn in an initial public offering at a valuation of $26bn – nearly a quarter of the $100bn it was once valued at.

The listing comes after the company announced a quarterly net loss of $99m in its last pre-IPO disclosure in July.

Shein, which is primarily known for selling mass manufactured apparel and lifestyle-related products for extremely cheap prices, was among the businesses that profited heavily from the e-commerce boom.

At its peak, the business raised money at a $100bn valuation in 2022, making it the world’s third most valuable start-up. These figures, however, would be dwarfed by several of the world’s biggest start-ups now, which are valued close to a trillion dollars.