Following the announcement of a business merger between China deals sites, Gaopeng, Groupon’s service in China, and FTuan, the new holding company will be rebranded with a new logo (pictured right) and name. GroupNet will essentially merge the two platforms and be run by top management from both FTuan and Gaopeng.
Tencent will also take up 30 percent of the new company’s shares, with FTuan’s CEO, Lin Ning, overseeing the new company’s operations. Both Gaopeng and FTuan websites and branding will remain as they are.
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