Chinese discount e-commerce company Pinduoduo just launched a new U.S. shopping site, in an attempt to replicate the global success of Chinese online fashion retailer Shein. The new site, called Temu, sells everything from clothing and accessories for women to home products and pet supplies at low prices. Its offerings, for example, include a $6 dress, an $8 handbag and $10 sneakers. ...
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Sumo Logic Cuts Staff After Francisco Partners Takeover
Data analytics software company Sumo Logic made widespread layoffs this week, according to people familiar with the matter and an email to staff viewed by The Information, less than a month after private equity firm Francisco Partners bought the company for $1.7 billion. The exact size of the cuts couldn’t be learned. Chief Executive Joe Kim, who was named CEO three days after the...
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