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| Tuesday, 1 March 2011, 16:00 HKT/SGT | |
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Source: Frbiz.com | |
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BEIJING, Mar 1, 2011 - (ACN Newswire) - Cheaponsale.com (http://www.cheaponsale.com/Products/) latest report shows that Groupon goes live in China on Monday, bringing its popular brand of Internet retail to the world's most populous nation.
However, the analyst from Cheaponsale.com cast doubts over how successful Groupon can be in China given the numerous group-buying websites that are already active in the country.
As we all know that Taobao, China's largest consumer e-commerce website, launched a group-buying website last year, while other sites such as Mei Tuan and Man Zuo have also sprung up. Popular portal websites such as Tencent's QQ and Sohu.com have also launched group-buying websites.
Cheaponsale.com analyzes that Groupon had been widely reported to be scouting out locations and workers in China, seeking the global expansion its plethora of rivals have not embarked upon.
Groupon, the two-year-old start-up that has met bankers about an initial public offering and which sources say rebuffed a 6 billion U.S. dollars advance from Google Inc.
The data from Cheaponsale.com shows that it has grown to about 50 million users from 3 million across 500 cities in 40 countries over the course of 2010.
Cheaponsale.com points out that Groupon recently completed a 950 million U.S. dollars round of financing on its way to pondering an IPO, which sources have said would be one of the largest technology IPOs of 2011.
Contact:
http://www.cheaponsale.com/
Tel: +86-10-65569770
Email: my@cheaponsale.com
Topic: Research / Industry Report
Source: Frbiz.com
Sectors: Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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