Groupon have just announced that they have acquired Groupon.cn. While on paper this just looks like a parent company gobbling up a Chinese sub-brand, this transaction is in actual fact the first case of a foreign brand buyings itās Chinese clone!
While Groupon.cn has the same name as the foreign company, up until today, that was where the similarities ended. Groupon.cn was actually a copycat company using the popular Groupon brand to raise capital. In fact in the first month the fake Grounpon started up they managed to raise $2.2 million!
Gizchina News of the week
Groupon.com seem to be one of the first foreign companies that have decided to buy their clone rather than to take them to court.
Follow us on Twitter for more Chinese internet and business news.
Via: Technode
