Jun 21, 2022 09:18 PM

Tech Insider: Shrinks Group-Buying Biz Again, TikTok Shifts U.S. Data

Photo: VCG
Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Tencent reduces holdings in New Oriental subsidiary

Tencent Holdings Ltd. has slashed its stake in New Oriental’s Hong Kong-listed online education subsidiary Koolearn Technology Holding Ltd., after its share price saw a jaw-dropping rally in the past two weeks after a surge in users of its parent’s livestreaming e-commerce unit.

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