China’s Group Purchasing Market: Some 5472 Websites Compete Fiercely for Business

On August 12th, 2011, Renren.com released its financial report for the second-quarter this year. As it was shown in this report, nuomi.com, renren.com’s subsidiary launched in July, 2010, achieved net revenue of $ 1.1 million, while its operating expenses are as high as $ 5.6 million. Struggling to make ends meet...

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