Source and analysis: PDD-owned Temu is losing an average of $30 per order and between $588M to $954M per year, as it tries to break into the US market (Tracy Wen Liu/Wired)

Tracy Wen Liu / Wired:
Source and analysis: PDD-owned Temu is losing an average of $30 per order and between $588M to $954M per year, as it tries to break into the US market — The Chinese shopping app is topping app stores in the US. But it's burning money and squeezing its suppliers to a breaking point in a bid to take on Amazon.

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PartnerOne acquires HeadSpin, whose founder is serving a jail sentence for fraud; email: employees' stock options were canceled as the options were "underwater" (Mary Ann Azevedo/TechCrunch)

Mary Ann Azevedo / TechCrunch : PartnerOne acquires HeadSpin, whose founder is serving a jail sentence for fraud; email: employees' stock options were canceled as the options were “underwater” — Employees' stock options were cancelled, according to a document viewed by TechCrunch. from Techmeme https://ift.tt/noKyEDx via IFTTT

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Bloomberg : Tokyo-based chip equipment maker Kokusai expects nearly 50% of its revenue to come from China in the coming months; its stock is up ~66% since its October IPO — - China business accounts for more than 40% of revenue, CEO said — Investment for mature chip fabs likely remain solid next year from Techmeme https://ift.tt/OT8AHz2 via IFTTT

Sources: late on Friday night DOGE staffers gained access to all of the CFPB's data systems, which hold confidential info potentially pertaining to X's rivals (Bloomberg)

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