Amazon is among a group of big-name investors looking to quickly cash-in on food and grocery delivery company Deliveroo’s initial public offering next week. In a new filing related to the IPO, Deliveroo said Amazon will sell shares worth about $140 million, which will reduce the internet giant’s 16% stake in the company to 11.5%. That remaining stake stands to be worth more than $1 billion. ...
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TikTok CEO Expands Purview to Include ByteDance’s New App Lemon8
The Singapore-based CEO of TikTok, Shou Zi Chew, is getting a bigger job. TikTok’s Chinese parent company, ByteDance, is putting its newer social media app, Lemon8, under Chew’s supervision, according to a person with direct knowledge of the matter. The move appears to reflect ByteDance’s strategy of locating the heads of its global apps outside China, in an effort to defend...
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