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Rumor: 55Tuan Obtains USD 200 Mln in Funding

Sina Tech, 5/23/11

According to an industry source, Chinese group buy site 55Tuan has completed a new round of funding worth USD 200 mln from Goldman Sachs.

55Tuan CEO Xu Maodong refused to discuss the financing round in detail. According to an industry insider, the company will hold a press conference on May 25 to announce the new round of financing.

Editor's Note: For more information on this topic, please see "Rumor: Group Buy Site 55tuan Poaches 200 Lashou Staff," MD 5/20/11 issue.

Keywords: Internet funding Goldman Sachs Xu Maodong 55Tuan e-commerce group buying

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