Sources: Chinese online fast fashion retailer Shein has been valued at $65B to $85B in private markets in recent months, down from $100B+ in April 2022 (Financial Times)

Ingrid Lunden / TechCrunch:
Atomico: European startups are on track to raise $85B in 2022, down from $100B+ in 2021; the European tech industry lost ~$400B in value, dropping to $2.7T  —  Startups across Europe are on track to raise $85 billion in funding this year — a drop of $15 billion on 2021 levels …

Mia Sato / The Verge:
Shein’s parent company Zoetop will pay a $1.9M penalty to New York state over a 2018 data breach that affected 39M Shein and 7M Romwe accounts  —  The company behind ultra fast fashion brands Shein and Romwe will pay New York state $1.9 million over a data breach affecting millions of customers.

Melissa Repko / CNBC:
Walmart is launching a virtual try-on tool that allows shoppers to see how a clothing item would look on their own bodies without having to visit a store  —  – Walmart is launching a virtual try-on tool to help shoppers see how a shirt, dress or another clothing item would look on their own body.

Wall Street Journal:
Pinduoduo launched US shopping site Temu on September 1, the Chinese e-commerce giant’s first major push overseas, following online fast fashion retailer Shein  —  Temu is the latest example of Chinese companies expanding overseas as the economy loses steam at home

Rich Woods / XDA Developers:
Lenovo unveils the ThinkPad X1 Fold Gen 2 with Intel 12th Gen processors, a 16.3″ foldable OLED display with 600 nits, available in November 2022 from $2,499  —  Today, Lenovo is announcing the ThinkPad X1 Fold Gen 2, a product that’s been a long time in the making.

Spencer Soper / Bloomberg:
Numerator: during Amazon’s second Prime Day, the average US order size was $46.44, down 23% from the July Prime Day, mostly comprising household essentials  —  Amazon.com Inc. shoppers are largely skipping pricey purchases during the company’s Prime sale sequel — favoring pantry items …