Groupon Fatigue

Groupon’s Chinese Joint Venture Is Falling Apart as American Groupon Renews Its March Toward IPO

(Max Whittaker, fotopedia.com)

“It’s an open secret that Groupon’s China JV, Gaopeng (高朋), is on its way to becoming the next failure of foreign internet companies entering China,” the Chinese tech blog TechRice wrote earlier this month. In the U.S., Groupon, which is being sued by its employees for ludicrously-uncomfortable working conditions, and has been the subject of a string of bad press for everything from its shaky financials to the peppy memo that was accidentally-on-purpose leaked to AllThingsD, prompting an SEC investigation that was resolved without penalty. But after canceling its IPO roadshow, Dealbook is reporting that the startup is back on track for a public offering even as the markets continues to suck. Read More

Tumblr

Blatant Chinese Tumblr Clone Moves into Chinese Incubator

tumblr clone

Tumblr is blocked by China’s Great Firewall, leaving room for founder Jack Xu, “considered a prodigy of social,” to launch the copycat DianDian (点点), which translates to “bit-by-bit.” Today the Chinese tech blog TechRice reports DianDian and Quora copycat Zhihu (知乎) have both recently moved into InnovationWorks, a start-up incubator founded by Kaifu Lee, the former president of Google China. “InnovationWorks is apparently incubating (hosting and mentoring) as well as investing in these firms, though terms have not yet been released,” TechRice writes. So how close is the clone? Read More