Jumia undergoes major restructuring after ousting its co-CEOs, including closing its Prime subscription program and its Logistics service in seven countries (Aanu Adeoye/Financial Times)

Tage Kene-Okafor / TechCrunch:
African e-commerce giant Jumia announces co-founders Jeremy Hodara and Sacha Poignonnec have stepped down as co-CEOs, replaced by executive Francis Dufay  —  African e-commerce giant Jumia has made a new change in management as co-founders Jeremy Hodara and Sacha Poignonnec step down effective today …

Ashley Capoot / CNBC:
DocuSign will lay off 9% of staff as part of a major restructuring to be completed by 2023 end, incurring charges of $30M-$40M; it had 7,461 staffers in January  —  – DocuSign will lay off 9% of its workforce as part of a major restructuring plan, the company announced Wednesday.

Eileen AJ Connelly / The Wrap:
SEC sues two former MoviePass CEOs, charging them with misleading investors about profit potential, data operations, studio relationships, and revenue sources  —  The Securities and Exchange Commission filed suit against two former CEOs of MoviePass, charging them with misleading investors …

Bloomberg:
An interview with the co-founder of Vietnamese unicorn VNG, which offers games and services like Zalo, a messaging app that had 74M+ MAUs in Vietnam in February  —  A Vietnamese internet startup that’s successfully defended its home market of 100 million people against global giants like Facebook is now going into attack mode.

Jack Daleo / FreightWaves:
Loop, which uses AI to digitize shipping invoices and other logistics documents, raised $30M across a seed and a Series A from Founder’s Fund, Flexport, others  —  Company handled $1B in payment volume in its 1st year … Here’s a wild stat: Between 20% and 30% of all invoices today contain some form of exception or error.

Alexandra S. Levine / Forbes:
At Code, CEOs and politicians voiced concerns about TikTok’s power, rapid growth, and surveillance potential, with some calling for it to be banned altogether  —  At the Code Conference in LA, tech and media CEOs and politicians all expressed concerns about the Chinese-owned app — as a competitor, and as a national security risk.