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The Tencent-backed on-demand delivery firm abruptly announced on Thursday that it had run out of cash, dismissing workers and leaving suppliers unpaid. Missfresh blamed a coal miner for failing to come through on a promised investment, but China’s Covid-19 restrictions have hurt delivery operations and consumer spending.
Live-streaming recruitment, in which agents introduce job openings to viewers and send links for them to apply, has gained popularity. Big Tech firms including Kuaishou Technology and rival ByteDance have introduced services dedicated to the new form of recruitment.
TikTok owner ByteDance has decided to divest its stake in an influencer agency whose most valuable asset, Chinese online celebrity Li Ziqi , sued the company in a case that could impact the popular business model of investors cultivating and profiting from online personalities. In the widely watched case involving one of the country’s top online stars, who is seen...
by Tyler Durden Monday, Apr 26, 2021 - 08:40 PM Two weeks after China's State Administration for Market Regulation - Beijing's paramount anti-trust regulator - fined Alibaba a record $2.8 billion for abusing its market dominance, capping off the country's first major anti-trust action to rein in one of the tech giants dominating the Chinese domestic economy, the CCP has just launched its next major anti-trust investigation. The SCMP reported that China's antitrust regulator on Monday officially launched a probe into food-delivery service provider Meituan, citing alleged monopolistic business...