Amazon will shut down its food delivery business in India on December 29, after launching it in May 2020 in Bengaluru, as part of a broader restructuring (Manish Singh/TechCrunch)

The Economic Times:
Large floods in Bengaluru have ignited a debate over the city’s future as India’s tech hub, amid a lack of infrastructure, poor urban planning, and traffic woes  —  Bengaluru’s residents have long complained about gridlocked traffic, water shortages, lack of infrastructure and poor urban planning …

Financial Times:
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  —  Fast-fashion retailer popular with Gen-Z shoppers has been valued at $65bn-$85bn in private markets  —  Chinese fast-fashion retailer Shein …

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.

Manish Singh / TechCrunch:
Bengaluru-based Juno, which works with US payroll services to offer checking accounts that give users their paychecks in digital tokens, raised an $18M Series A  —  Juno, a startup that provides checking accounts to crypto enthusiasts and allows them to take their paychecks in digital tokens …

Manish Singh / TechCrunch:
New York- and Bengaluru-based Amagi, a streaming video and ads infrastructure startup, raised a $100M+ Series F led by General Atlantic at a $1.4B valuation  —  Amagi, which offers cloud broadcast and targeted advertising software to scores of media and entertainment giants …

Mia Sato / The Verge:
Amazon quietly shuts Fabric.com, an online retailer of fabrics, trims, notions, and other supplies since the late 1990s before being acquired by Amazon in 2008  —  Crafters, home sewists, and small businesses will soon lose a major online fabric source.