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Groupon Confirms Mainland China JV Plans

DoNews, 2/10/11

According to Bloomberg, Danny Yeung, CEO of Groupon Hong Kong, announced in a briefing in Hong Kong today that Groupon will enter the Chinese mainland "very soon" through a joint venture. Yeung added that the company had already hired 120 employees in China and aims to grow the new workforce to approximately 1,000 within three months. However, Yeung refused to reveal either Groupon's partner or the specific time when Groupon would enter the Chinese mainland.

Editor's Note: For more background information on this topic, please see "[url=]Rumor: Groupon, Tencent JV to Use Domain[/url]," MD 1/20/11 issue.

Keywords: Danny Yeung e-commerce Internet JV Groupon group buying

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