Group Buy Site 5151tuan Obtains USD 3 Mln Funding
Guangzhou Daily, 5/25/10
Chinese group purchasing site 5151tuan.com has received USD 3 mln in venture capital.
Pan Wenwei, director of operations for the site, said that the site mainly offers products in the "eating, drinking, and entertainment" category. Every day, the site features a product discounted by 50% or more. According to Pan, customers complete purchases on the site through online banking, after which the site sends an SMS message to serve as proof of purchase. Pan said that customers can consume their purchased good or service at a later date after buying online. If a sufficient minimum number of buyers is not reached, the transaction will be cancelled and 5151tuan will refund buyers' money.
According to Pan, since the start of recent promotional efforts, 5151tuan has seen visits from more than 10,000 IP addresses each day, with click rates steadily growing, and peak daily traffic reaching more than 90,000 clicks.
5151tuan chairman Zeng Shixiong founded the site in April of last year. According to Zeng, more than 2,000 sellers in Guangdong province alone have signed on as partners. 5151tuan has sites for Guangzhou, Guiyang, Hangzhou, Nanjing, Shenzhen, and Zhuhai, and will launch a Chengdu site within the next half-month. The site was founded by students from Sun Yat-sen University, and has a staff of 21 employees.
Keywords: 5151tuan Pan Wenwei Internet traffic Zeng Shixiong Internet funding group buying
Sending
