×
2 518
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Boots-Liverpool Street, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots-Handforth Dean, Wilmslow - 15 Hours / Week - Part Time, Permanent
Permanent · Wilmslow
ESTÉE LAUDER
Clinique - Consultant - Bentalls, Kingston- 21.5 Hours / 3 Days / Week - Part Time, Permanent
Permanent · Kingston upon Thames
ESTÉE LAUDER
la Mer - Business Manager - Flannels, Meadowhall - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - Boots - Cribbs Causeway, Bristol - 17.5 Hours / 3 Days - Part Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots, Warrington - 17 Hours - Part Time, Permanent
Permanent · Warrington
ESTÉE LAUDER
The Estée Lauder Companies - IT Service Desk Manager UK
Permanent · Fareham
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part Time, Permanent
Permanent · Bishop's Stortford
JOHN LEWIS
Contract Sales Manager
Permanent · DARWEN
PUMA
Cobra Puma Golf - Sales Support Coordinator
Permanent · Castleford
JOHN LEWIS
Loss Prevention Partner
Permanent · LEICESTER
HEAD OFFICE
Team Manager/Chef Victoria Head Office
Permanent · LONDON
VF INTERNATIONAL
Account Coordinator - Italian Speaking - Vans
Permanent · NOTTINGHAM
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
DR. MARTENS
Finance Analyst
Permanent · LONDON
MULBERRY
Lifetime Service Centre, Raw Materials Stock Coordinator
Permanent · CHILCOMPTON
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip Officer
Permanent · LONDON
AUTUMNPAPER LIMITED
Alexander Mcqueen Decision Intelligence Manager
Permanent · LONDON
ON RUNNING
Technical Representative
Permanent · LONDON
DEBENHAMS
Business Development Manager
Permanent · LONDON
Ads
By
Reuters
Published
Feb 28, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Groupon enters China, teams with Tencent

By
Reuters
Published
Feb 28, 2011

Feb 27 - Daily-deals website Groupon goes live in China on Monday, bringing its popular brand of Internet retail to the world's most populous nation.

Groupon
www.gaopeng.com

GaoPeng.com, funded by Groupon, the Tencent Collaboration Fund and Yunfeng Capital, will begin accepting email registrations from local consumers, with daily deals promoting local merchants to debut in March.

However, analysts cast doubts over how successful Groupon can be in China given the numerous group-buying websites that are already active in the country.

"Discounts will always be popular but the question is, will Groupon be more popular than the other websites," said Paul Wuh, a Hong Kong-based analyst with Samsung Securities.

"There are many entrenched companies already offering this product," Wuh said.
Taobao, China's largest consumer e-commerce website, launched a group-buying website last year, while other sites such as Mei Tuan and Man Zuo have also sprung up. Popular portal websites such as Tencent's QQ and Sohu.com have also launched group-buying websites.

China had almost 19 million group-buying users at the end of 2010, according to government statistics.

Wuh said the move is generally positive for Tencent as it signals that China's largest Internet firm is further expanding its operations its core revenue driver of games.

Groupon had been widely reported to be scouting out locations and workers in China, seeking the global expansion its plethora of rivals have not embarked upon.

Groupon, the two-year-old start-up that has met bankers about an initial public offering and which sources say rebuffed a $6 billion advance from Google Inc -- has seen phenomenal growth.

It has grown to about 50 million users from 3 million across 500 cities in 40 countries over the course of 2010.

But the competition is intensifying, with the likes of LivingSocial expanding in the same space and a plethora of websites springing up globally that specialize in deals for niche markets.

Groupon recently completed a $950 million round of financing on its way to pondering an IPO, which sources have said would be one of the largest technology IPOs of 2011.

Its venture capital backers and late-stage investors include Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake and Technology Crossover Ventures.

(Reporting by Edwin Chan and Melanie Lee; Editing by Kazunori Takada)

© Thomson Reuters 2022 All rights reserved.