Group Buy Site Kutuan Acquires U-Tuan
DoNews, 6/18/10
Chinese group buying site Kutuan.com confirmed today that it had acquired Guangzhou-based group buying site U-Tuan.com, but declined to reveal the cost of the acquisition.
Kutuan CEO Zhang Wei noted that there are currently roughly 200 group buying sites throughout China. Kutuan will establish a sales center in Guangzhou, and will expand to cover 100 cities nationwide by the end of this year.
U-Tuan launched in March of this year, and offered a daily "featured product" for group purchases, including restaurant, bar, KTV, spa, salon, and yoga discounts.
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