Groupon starts group-buy service in China

Updated: 2011-02-28 13:09
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Groupon Inc, owner of the biggest coupon website, said it started an online group-buying service in China as consumers in the world's fastest-growing major economy increase spending over the Internet, Bloomberg reported Monday.

The bittersweet of group purchase
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The website will initially cover Beijing and Shanghai before expanding to other major Chinese cities, the report quoted Chicago-based Groupon's e-mailed statement as saying.

Tencent Holdings Ltd, China's biggest Internet company, and Yunfeng Capital, a private equity fund started by Alibaba Group Holding Ltd Chairman Jack Ma, are other investors in Gaopeng, the report said.