Hillhouse-backed Beequick plans layoffs due to delay in Series D funding

Visual from company website

Struggling to raise a new funding round, Beijing-based online community services online-to-office (O2O) startup Beequick – that provides one-hour delivery of fresh produce and other consumer products from community convenience stores – is considering downsizing its staff strength.

Backed by Hillhouse Capital, Tiantu Capital and Sequoia Capital, Beequick is reducing its headcount from 1,100 to 700, the China Money Network reported.

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