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 […]
Chinese group buying service website Didatuan.com will formally close its group buying business on March 31, 2014, and will transform its brand to a new business model in the future. Founded by Song Zhongjie, former sales general manager of Google China, in July 2010, Didatuan.com completed its integration with Velo, a Chinese coupon provider, at […]
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 […]
Chinese e-commerce group Alibaba has launched the overseas version of its group buying website Juhuasuan.com for Hong Kong and Taiwan markets, representing an important step into Hong Kong, Macau, and Taiwan.
China Internet Network Information Center recently published its 31st Internet survey report, stating that by the end of December 2012, the number of Internet users in China had reached 564 million and the Internet penetration rate was 42.1%, which was 3.8 percentage points higher than 2011.
Chinese B2C e-commerce website Dangdang.com announced the formal launch of a new lifestyle department, which will be responsible for operating services such as mobile phone fee recharges, group discount platform, and tourism products.
Chinese social networking company Renren.com has published its unaudited financial report for the second quarter of 2012, reporting USD3.6 million net operating revenue from its group buying service site Nuomi.com.
Chinese group buying website Ftuan.com announced that its physical company has been renamed from Beijing Kala Interactive Technology Company Limited to Beijing Wangluo Tianxia Life Technology Company Limited, and both Ftuan.com and Gaopeng.com will be integrated into the company.
Chinese group buying website Meituan.com published its latest sales statistics, claiming that the company achieved sales of CNY440 million in June 2012.
Ftuan.com, a Chinese group buying website, and Gaopeng.com, the joint venture between Tencent and Groupon, have reportedly completed their merger and integration, and the new company will be led by Lin Ning from Ftuan.com.
Meituan.com, one of many Chinese group buying websites, has revealed its sales statistics for the first five months of 2012, stating that its overall sales reached CNY1.476 billion, and the company expected to realize profit by the end of the year.
China’s Ganji.com and 55tuan.com have jointly announced that 55tuan.com has become the operator of Ganji.com’s group buying business.
Chinese Internet portal NetEase.com has launched a new coupon platform, Quan.163.com, marking its latest online move following the unveiling of its recent lottery and insurance e-commerce businesses.
The China Internet Network Information Center has published a report on the activities of Chinese group buying users for 2011 in Beijing, stating that by June 2011, there were 42.2 million online group buying users in China, an increase of 125% compared with six months ago.
The Chinese tea leaf B2C e-commerce platform Maimaicha.com, which is operated by Shandong Huaxia Chalian, has announced that it has completed its A-round financing and gained nearly CNY100 million investments from four organizations in China.
Chinese social networking site Kaixin001.com has announced that its group buying business, which it previously operated on its own, will transform to a third-party cooperation model.
The world’s search engine giant Google has launched the group buying search service in China, marking its formal entry into the saturated Chinese e-commerce market.
Chinese anti-virus software provider Rising has announced that its first Internet client product, Rising security browser, has started beta tests.
Chinese social networking site Renren.com and Japanese human resources and Japanese media group Recruit Company Ltd. have reached an agreement to jointly establish a marriage-oriented social media platform in China.
China’s Shanda has announced its launch a new navigation site, Tuan.sdo.com, for group buying websites.
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.