Around the Net

Big Trouble For Groupon In China

According to press reports from China, Groupon is not getting along with its Gaopeng.com group buying venture partner Tenacent. "Apparently the site went up for a day, Tencent balked and pulled it back down," TechCrunch hears. "Beyond that, people tell us the operation is pure chaos: Rapid hiring, little due diligence and money being thrown around. The biggest gripe: It's almost entirely run by foreigners."

Perhaps asking for trouble, Gaopeng recently ran a hiring ad with the promise of limitless funds, plans to hire 1,000 people in a matter of months, and consultants and MBAs in particular. "Not people versed in the local market," TechCrunch points out. "Chinese language skills aren't even mentioned in the ad." Is this just another case of an American company getting in over its head in a foreign land? Most likely, says TechCrunch.

Read the whole story at Tech Crunch »

Next story loading loading..