Group buying giant Groupon Inc officially launched the Chinese version of its website Gaopeng.com Monday as it seeks to tap China's booming online spending.
Gaopeng - eminent guests in Chinese - was co-funded by Groupon, Tencent Holdings and Yunfeng Ventures, a private equity, set up by Alibaba Group chairman Jack Ma and Target Media founder Yu Feng, that focuses on the Internet industry.
The website now offers e-mail subscriptions for group buying deals in China and is expected to start operating this month.
China has over 18.7 million group buying users among its 450 million Internet users, the latest report of the official China Internet Network Information Center said.
The website will start by offering group-buying deals that covers local dining and lifestyle services in Beijing and Shanghai.
"We're committed to catering to the diversified shopping needs of local customers and introduce an international service standard," Ouyang Yun, head of Gaopeng.
