Market Contraction Claims Chinese Tech Giants as Former Recruitment Unicorn Enters Voluntary Bankruptcy

A prominent symbol of China’s bygone mobile internet boom has collapsed into bankruptcy reorganization, exposing deep fractures within the country’s tech ecosystem and broader labor market. Beijing Lagou Network Technology Co., a highly specialized recruitment platform once celebrated as an industry “unicorn,” filed for voluntary bankruptcy after years of operational paralysis. The company’s digital infrastructure has crumbled, with its application scrubbed from major smartphone marketplaces and its public media channels frozen since early last year. Lagou launched in 2013 to exploit a massive wave of mobile internet startups by focusing exclusively on tech-sector employment. The startup attracted millions of dollars…