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Group Buy Directory Raises RMB 10 Mln in Angel Funding

Tencent Tech, 5/03/11

Chinese group buy directory site 1000Tuan.com has obtained nearly RMB 10 mln in funding from angel investor Xu Xiaoping.

1000Tuan.com was founded on May 2010 by six former employees of Chinese Internet firm Sohu's (Nasdaq: SOHU) white collar social-networking site Bai Shehui. The site on average receives 100,000 daily page views, and to date has generated over RMB 10 mln in total revenue to date.

Keywords: 1000Tuan Internet funding revenue Xu Xiaoping e-commerce HR group buying

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