Yunniao Delivery, a Chinese courier company, has filed for bankruptcy due to cash shortage, according to an internal discussion made public on Sunday. Once a delivery startup with RMB 7 billion ($1.1 billion) valuation, the company now struggles to pay salaries and refund deposits. Founded in November 2014, the Beijing-based company has received more than $210 million in funding from renowned investors, including Warburg Pincus, Sequoia China, and Matrix Partners. [National Business Daily, in Chinese]