TikTok owner ByteDance is shutting down its online tutoring apps for children and laying off some of its employees in its online education business, after the Chinese government recently issued new rules that ban tutoring services that teach school curriculum, according to a person with knowledge of the matter. ByteDance’s latest move, which was reported earlier by Chinese media outlets, is an...
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What Sequoia Should Have Said
I remember my jaw dropping last year when The Information’s Juro Osawa reported that Sequoia China was in talks to raise more than $8 billion in new funding from U.S. investors and others.I was baffled. I just couldn’t imagine that Sequoia, which had picked a slew of winners in the U.S. and China ranging from Google to Meituan, was going to continue to draw such inflows from the U.S. to its...
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