Groupon China Venture Says Margins ‘Much Greater’ Than 10%
This article is for subscribers only.
Groupon Inc., owner of the world’s biggest coupon website, said margins are “much greater” than 10 percent at its China venture Gaopeng.com, which competes with thousands of clones in the world’s largest Internet market.
Gaopeng offers coupons for group purchase deals in 30 cities and has established operations in 50, Ouyang Yun, chief operating officer, said at a press conference in Beijing today. Groupon started Gaopeng in February with partners including Tencent Holdings Ltd., China’s biggest Internet company.