Group Buy Site Cobuy.net Records 100K Members

IT168, 7/20/10

Chinese online gaming e-commerce site Cobuy.com.cn entered the group buying market on June 17 with the launch of a separate domain at Cobuy.net. Members for Cobuy's new group buying site have exceeded 100,000, a figure growing at a daily rate of 5%. The site, which has opened in the two cities of Beijing and Chengdu, plans to spend a total of RMB 10 mln to expand to 100 cities within a year.

Cobuy VP and CEO Li Wenbo said that the site plans to open another 15 local city branch sites supported by 15 subsidiary companies over the next three months, and is currently hiring operation managers and teams for each of the branch sites. Li said Cobuy has not ruled out acquisitions to boost the pace of its national expansion, and plans to spin off its group buying business in the future to be managed by a new company.

Keywords: Cobuy users Li Wenbo e-commerce Internet group buying

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