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China's O2O sector set to see more 'unicorpses'

Funding is drying up as inflated valuations of unicorns - or startups valued at over US$1b - deter investors

Many more companies of the likes of Shequ001 are expected to fall by the wayside, or be driven into mergers in what executives and investors say is a market bubble.


THE Beijing offices of Shequ001, a startup delivering supermarket goods booked via smartphone, stand almost deserted. Leaflets lie scattered on the floor.

Nearly 400 former employees, of a workforce that in March topped 2,000, have joined a social network clamouring to get