Ssense Sells Minority Stake to Sequoia Capital

Ssense is looking to speed up its global growth plans with the help of Sequoia Capital, which took a minority stake in the Montreal-based fashion platform. 

The investment, Ssense’s first outside money in its 18-year history, valued the company at more than 5 billion Canadian dollars. 

Neil Shen, steward of Sequoia Capital and managing partner of Sequoia Capital China, added: “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.”

Ssense averages 100 million monthly page views and said about 80 percent of its audience is between the ages of 18 to 40. 

Rami Atallah, cofounder and chief executive officer, 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.”

Angelica Cheung, venture partner at Sequoia Capital China, will join the Ssense’s board.

Ssense has been steadily branching out, launching kids in May following its move into beauty, home and pets late last year. 

 

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