What is SSENSE & can you buy its stock?

3 min read | November 29, 2021 10:00 AM EST | By Raza Naqvi

What is SSENSE?

Started as an e-commerce platform, SSENSE is one of the most popular multi-brand retailers among millennials in Canada. It also operates through retail stores and was founded by Rami Atallah and his brothers Firas and Bassel.

What is SSENSE?

Earlier this year, SSENSE received an investment from Sequoia Capital, and it valued the company at around C$ 5 billion. This was the first time since its inception when SSENSE took external funding.

Sequoia Capital is a venture capital firm, and by investing in the fashion retailer, it expanded into the fashion industry. Meanwhile, the investment will help SSENSE to focus on growth strategies.

Bottom line

As SSENSE continues to remain a private company, investors cannot buy its stock right now. However, stocks of publicly listed companies can be purchased by investors or the pre-IPO stock offered through stockbrokers and brokerage companies.

There’s no announcement of an initial public offering (IPO) from SSENSE, and potential investors will have to wait for the company to go public.

So far, 2021 has seen several IPOs across the world. According to a CPE Analytics report, in the first of this year, 88 IPOs were completed on four Canadian Exchanges- Toronto Stock Exchange (TSX), the primary stock market, TSX Venture Exchange (TSX Venture), Canadian Securities Exchange (CSE), and NEO Exchange (NEO).

The total amount raised through the offerings was C$6.92 billion, including Capital Pool Company (CPC) and Special Purpose Acquisition Company (SPAC).

Also Read: VinFast IPO: Can you buy the Vietnamese electric car maker's stock?

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