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Groupon Starts China Site With Tencent, Jack Ma’s Yunfeng

Groupon Inc., owner of the biggest coupon website, said it started an online group-buying service in China as consumers in the world’s fastest-growing major economy increase spending over the Internet.

The Gaopeng.com website will initially cover Beijing and Shanghai before expanding to other major Chinese cities, Chicago-based Groupon said in an e-mailed statement today. Tencent Holdings Ltd., China’s biggest Internet company, and Yunfeng Capital, a private equity fund started by Alibaba Group Holding Ltd. Chairman Jack Ma, are other investors in Gaopeng, according to the statement, which didn’t provide details of the shareholding.