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Chinese Fashion E-Commerce App Cuts IPO Target

By
Juro Osawa
· · Source: Bloomberg

Mogu, a Chinese fashion e-commerce app backed by Tencent, is now targeting a $2 billion valuation in its U.S. initial public offering, lower than the $3 billion price tag in its last fundraising two years ago, Bloomberg reported. The new valuation target is also half of Mogu’s previous IPO valuation target of $4 billion back in April, according to Bloomberg. The steep decline in Mogu’s...

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