Comment on Could a “Local Lifestyle E-commerce Platform” Save Chinese Group-buy Site Wowo? by Meituan Confirms US$700M Funding Round at US$7B Valuation - TechNode

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2015-01-14 00:00:00

Wowo Ltd. (or 55Tuan), one of the first group-buying services in China, recently filed for US IPO as a local lifestyle e-commerce platform. It’s likely to do with rumors that Meituan and Dianping, currently the leading Chinese group-buying services, are planning for US IPO too. March 2010 marked the beginning of China’s group-buying market, with a wave of Groupon clones launched that month, including 55Tuan, Meituan and LaShou. Some other Chinese online services such as Dianping, the leading ratings and reviews site, would add group-buying to their existing offerings. Chinese group-buying services charge about 5% commission and earn minor revenue from advertising, which is hardly able to generate profits.