Hong Kong (CNN Business) China’s startups had a rough time last year because of an economic slowdown and giant flops that scared away investors. Firms in the region raised a collective $54 billion in venture capital in 2019, about half of what they raised in 2018. […] WeWork’s downfall shows how ridiculously overvalued so many startups are But many Chinese startups struggled to court investors last year. […] The uninterrupted period between the Lunar New Year holiday and summer break is usually the time of year that startups use to lock down deals, said Oscar Ramos, managing director of Chinaccelerator, a startup incubator based in Shanghai. […] But that is hard to do now, said Yeung, because that stage often includes visiting companies in person to assess the management culture and review financial statements.
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