President Biden has revoked a series of Trump-era executive orders aimed at banning TikTok and WeChat and signed a new order that requires a review of foreign-owned apps that pose security risks. The move marks a shift from the blunt stance taken by Trump, who last year tried to block TikTok from operating in the U.S. and to compel TikTok’s parent company, ByteDance, to sell the app. However,...
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Sequoia Capital China Buys Discounted Stake in Prominent E-Commerce App
Sequoia Capital China recently acquired a stake in Chinese social e-commerce app Xiaohongshu from existing investors at a discount to the company’s most recent equity financing valuation, according to three people with knowledge of the matter. Sequoia China, which is preparing to separate from Silicon Valley’s Sequoia Capital next year, bought the Xiaohongshu shares earlier this...
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