China Digest: ByteDance’s Dmonstudio shuts shop; SoftBank backs Feng1

Dmonstudio, a women’s clothing retail website operated by Beijing-based tech firm ByteDance (the parent company of TikTok) shut shop last week. In a separate development, SoftBank Ventures Asia has led a $47 million funding in Feng1, a cashier-less vendor startup, in its Series A round.

ByteDance’s Dmonstudio shuts shop

Dmonstudio, a women’s clothing retail website operated by Beijing-based tech firm ByteDance (the parent company of TikTok) shut shop last week.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter