Source: Tech – South China Morning PostA once-rising star in China’s booming community group buying industry has become the sector’s first big casualty after it was forced to close in yet another sign that the country’s latest Big Tech-backed battleground is cooling off.Tongcheng Life, a start-up founded in 2018 with over US$300 million in total venture capital funding, has filed for bankruptcy due to poor management and a difficult business environment, according to a statement issued by the company on Wednesday.“A few days ago, we…Read More