Chinese internet giant ByteDance, the owner of TikTok, plans to sell or shut down all of its securities businesses as China’s government tightens its control over online financial services, local news outlet Caixin reported. Such businesses are just a tiny part of ByteDance, which generates the bulk of its revenue from online advertising in China. But the company’s decision to withdraw from...
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How Stitch Fix Fumbled a Make-or-Break Pivot
Stitch Fix planned to revive sales growth by turning its original strategy on its head. Inside the company, there were warning signs that the effort would struggle. The retailer, which is best known for sending customers five-piece boxes of clothes and accessories picked out by stylists, hoped to broaden its appeal by using algorithms to recommend items for people to buy directly online. But a...
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