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Luggage Startup Away Announces Big Job Cuts as Sales Plummet

Away, the luggage brand backed by venture firms Accel and Forerunner Ventures, has furloughed roughly half of its 500-person workforce and laid off another 60 corporate employees. The cuts impacted nearly every department at New York-based Away, which has seen sales plummet 90% over the last few weeks, the company’s founders Steph Korey and Jen Rubio wrote in a blog post on Tuesday. Travel has...

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Venture Capital Asia
TikTok Valued at Around $60 Billion, As Deal Structure Emerges

Walmart and Oracle are valuing the soon-to-be formed TikTok Global at between $50 billion and $60 billion, according to two people familiar with the deal, as key aspects of one of the most convoluted global tech deals in history take shape. 

Another key point: Zhang Yiming, the CEO of ByteDance, parent company of the China-based viral video app TikTok, could become the new entity's ...

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