Buys Chinese Copycat

Groupon have just announced that they have acquired 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 it’s Chinese clone!

While has the same name as the foreign company, up until today, that was where the similarities ended. 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 seem to be one of the first foreign companies that have decided to buy their clone rather than to take them to court.

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Via: Technode

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