Venture Capital
On Monday, the Chinese e-commerce giant scrambled to contain a sexual assault scandal that has thrown it into the middle of the #MeToo movement that has been slowly taking place in the country. Now, besides being pressured by the country's regulators with the rest of the tech giants, its reputation has been shattered. In an internal letter dated "before dawn", Alibaba's (NYSE: BABA) chief executive Daniel Zhang pledged to change the company's culture. A manager who allegedly sexually assaulted an employee has been fired, and that two other executives who failed to act after the incident had resigned.

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