Business Intelligence on Retailing, Franchising, and Consumerism in China


Chinese Group Buying Website Gains Additional USD40 Million Investment

Beijing Wangluo Tianxia Life Technology Company Limited, which is the integrated company of the Chinese group buying websites Ftuan.com and Gaopeng.com, has completed its latest financing and gained investments of USD40 million.

According to Lin Ning, chief executive officer of Wangluo Tianxia and former chief executive officer of Ftuan.com, the investments were led by Groupon and Tencent also made additional investment. On the completion of the investment, the management team of Ftuan.com still holds a majority stake.

Lin revealed that so far, Ftuan.com, Gaopeng.com, and the group buying business of Tencent have been fully integrated and no barrier exists on the operational level. In the future, the new company will implement more moves, including focusing on more acquisitions.

Prior to this, Ftuan.com gained three rounds of investments. In June 2010, the company received over USD5 million investments from Mitsui Ventures and Mizuho Capital Markets; in March 2011, it gained tens of millions of US dollars from Tencent; and in the same year, it gained additional USD60 million investments from companies including Tencent.





Be the first to comment on "Chinese Group Buying Website Gains Additional USD40 Million Investment"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

New Online-to-Offline Delivery Service Aims To Improve JD.com's Timeliness

Baidu Begins Advertising Cooperation With Yahoo Japan

China's Huawei To Build R&D Base In Tokyo

Xiaomi Sold Over Two Million Smartphones In India During Q3 2016


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

Coca-Cola To Sell Chinese Bottling Business

Qualcomm Sets Up Semiconductor Test Factory In Shanghai

Best Logistics Closes Good Investment For International Expansion

CloserStill Media Launches Smart IoT Hong Kong for 2017