Josh Ye / Reuters:
Chinese language social media and e-commerce app Xiaohongshu has laid off 9% of its workers amid crackdowns; Xiaohongshu raised $500M in November at a $20B valuation — Chinese language social e-commerce app Xiaohongshu, referred to as China’s reply to Instagram, mentioned it had minimize about 9% of its workers as the corporate joined different web corporations in retrenching.
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