28 Feb '11, 5am

Groupon launches online bargain site in China via @cmswire

SHANGHAI - US INTERNET coupon deals website Groupon launched its China venture on Monday in partnership with local web giant Tencent, looking to tap into the world's largest Internet population. Customers can now sign up on Gaopeng.com, with daily discounts from local merchants to debut in March, Groupon and Tencent said in a joint statement. 'The collaboration combines Groupon's global group-buying experience with Tencent's in-depth knowledge of Chinese online communities,' the companies said. 'We are excited to be in China collaborating with a leading Internet company and highly-respected business leaders,' Andrew Mason, founder and chief executive of Groupon, said in the statement. Gaopeng.com is funded by Groupon, Tencent Collaboration Fund - established earlier this year - and private equity fund Yunfeng Capital, whose investors include Alibaba Group founder Jack Ma. ...

Full article: http://www.straitstimes.com/BreakingNews/Asia/Story/STISt...

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