Rumor: Offline Coupon Provider Velo Acquires Didatuan
Sina Tech, 2/01/13
According to an informed source, Shanghai Kuanxin Information Technology, operator of offline coupon service Velo, has acquired group buy site Didatuan. The transaction, of an undisclosed amount, is rumored to have already been completed.
Shanghai Kuanxin Information Technology and its Velo service were established in 2006. The company operates automated offline coupon terminals at which customers can receive coupons for local and name-brand stores and restaurants. The company, which charges retailers an advertising fee to have their coupons hosted in Velo coupon terminals, boats over 5 mln customers and has previously completed a third round of funding.
The two companies have yet to comment on the matter.
Keywords: coupon Internet Didatuan group buying M&A Velo Kuanxin
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