Dec 10 – Chinaccelerator Daily Digest: Five Headlines you need to know
Chinaccelerator Daily Digest – Dec 10, 2021 Five headlines you need to know. Subscribe for links to these stories and job posts at https://mailchi.mp/sosv/chinadaily
1. Luckin Coffee released its unaudited financial report for the Q3, revenue rises to $364.7 million, net loss decreases by 98.6% year-on-year. Pandaily
2. Alibaba invests $38.12 million in UTour Group, becomes second largest shareholder. Pandaily
3. Chinese social media company Renren Inc.’s $300 million settlement with investors rejected, causing U.S. share price to plunge 53%. Pandaily
4. Bilibili was preparing to launch its “Xiaohuangche” function on its live-streaming channel. The feature will enable users to buy goods while watching a live-stream. Pandaily
5. ByteDance to end the operations of the social app Feiliao, known as Flipchat in other markets. TechPlanet & TECHINASIA
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