Renren Kills Non-core Chinese Internet Businesses
Chen Yizhou, chief executive officer of Renren, says the company is planning to sell some non-core businesses to improve their profitability and they are also considering investment and expansion opportunities in America and Hong Kong. Chen revealed during an interview with local Chinese media that under the current model it is hard for the company […]
Suning Acquires Group Buying Site Manzuo.com
Suning Commerce Group confirmed that the company will acquire Chinese group buying website Manzuo.com for nearly USD10 million. According to a representative from Suning, as a new business model which integrates online and offline channels, the business has a broad market capability in China. Group buying is a catalyst that promotes the integration of online […]
China’s Meituan.com Reports Semi-annual Sales Of CNY1.916 Billion
Chinese group buying website Meituan.com published its latest sales statistics, claiming that the company achieved sales of CNY440 million in June 2012.
China’s Ganji.com Develops Group Buying Internet Service With COFCO
Chinese lifestyle information website Ganji.com has launched a new collective buying product, which will first cooperate with Womai.com owned by COFCO Group in providing group buying deals in Beijing.