Josh Ye / Reuters: Chinese social media and e-commerce app Xiaohongshu has laid off 9% of its staff amid crackdowns; Xiaohongshu raised $500M in November at a $20B valuation — Chinese social e-commerce app Xiaohongshu, known as China's answer to Instagram, said it had cut about 9% of its staff as the company joined other internet firms in retrenching. Checkout latest world news below links : World News || Latest News || U.S. News Source link