Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. Bird Global, the company that pioneered on-road electric scooter rentals, has filed for Chapter 11 bankruptcy protection in Florida, five years after becoming the fastest startup ever to reach a so-called “unicorn” valuation of over $1 … [Read more…]
Photo credit: Philippe Lopez/Getty Images Bird has filed for Chapter 11 bankruptcy, capping a turbulent year for the electric scooter company. In a press release today, Bird confirmed that the company had initiated a “financial restructuring process to strengthen its balance sheet” and that the company was continuing to operate as usual to pursue “long-term, … [Read more…]
Global online shopping platform Temu is already gaining ground in the US Apple Store. Bloomberg | Bloomberg | Getty Images Chinese low-cost online retailer Temu has filed a new lawsuit against its rival Shein over copyright concerns and “mafia-like intimidation of suppliers,” according to a filing Wednesday. In the lawsuit, Boston-based WhaleCo, which does business … [Read more…]
Google has finally found a solution to the terrible bug in its online storage service that was deleting files for no apparent reason. The editor even offers two methods to recover lost data. Phew! This is the end of the massacre. For around ten days, some users have been complaining about a spectacular and catastrophic … [Read more…]
A pop-up store by Shein Group Ltd. in a Forever 21 store in the Times Square district in New York, USA, on Friday, November 10, 2023. Yuki Iwamura | Bloomberg | Getty Images Lawmakers are stepping up their scrutiny of Shein after the company confidentially filed to go public last week. One congressman who sits … [Read more…]
Shein has not yet determined the size of the IPO, which was valued at over $60 billion in May The IPO takes place amid challenging markets and under US scrutiny Fast fashion retailers still lag behind Amazon in sales Nov 27 (Portal) – Fashion company Shein has confidentially filed to go public in the United … [Read more…]
Users of the cloud backup service Google Drive report that several files have disappeared from their account. The cause of this situation appears to be a bug that causes files from the last few months to be removed from Google Account storage. Google Drive is certainly one of the most popular services offered by the … [Read more…]