BEIJING, March 1 Asia Pulse - Online coupon company Groupon Inc. is entering the Chinese market, launching a website there in partnership with a leading Chinese internet firm.
The U.S. firm has teamed up with Tencent Holdings Ltd. (SEHK:0700), China's largest instant messaging company, to launch group-deals site Gaopeng.com.
An investment fund involving Jack Ma, chairman of China's largest e-commerce firm, Alibaba Group (SEHK:1688), will take a stake in Gaopeng.com along with Tencent and Groupon. Service will begin in Shanghai and Beijing this month, then expand to other cities.
By combining Groupon's name recognition and Web site management expertise with Tencent's Chinese customer base of around 670 million, the companies aim to emerge victorious in China.
Tencent is looking to use its IM customer base to diversify operations and is already the Chinese market leader in online games.
(Nikkei) ry 01-03 1636
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