Rumors of the site’s imminent collapse had been floating for weeks, and 40% of its staffers were laid off in early July. “The [new] funding comes from two firms, The Raine Group – which also holds stakes in Vice Media and C3 Presents, the owner of Lollapalooza – and Temesek Holdings, a state-run Singaporean holding company with interests in several state-run Chinese companies. In addition, co-founder Alex Ljung will be stepping down as CEO, but remaining chairman.”