Lashou.com secures US$50 mln in 2nd round of funding
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China's group-buying website Lashou.com announced Thursday that it has obtained US$50 million from its second round of fundraising, the China Business News reported Friday.
The funds come from Teneya Venture, Norwest Venture, GSR Ventures and Rebate Networks. The latter two investors also took part in Lashou.com's first round of fundraising.
In June, Taishan Investment AG, Chinese Founders Fund, Rebate Network and GSR Ventures invested a total of US$10 million in Lashou.com.
Lashou.com turned down the merger offer from US group-buying giant Groupon, said Wu Bo, founder and CEO of the site. Wu said Groupon only wants to takeover Lashou.com and turn it into Groupon's China unit.
Recently Groupon officially expanded into the Asian market. Earlier this week, it announced the launch of Groupon Hong Kong, Groupon Singapore, Groupon Philippines and Groupon Taiwan by acquiring uBuyiBuy, Beeconomic and Atlaspost.
China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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