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 Gaopeng.com 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.
