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

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.

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