55Tuan always is the noisemaker in Chinese group buying market which has already been flooded with bad news. Jieshi.com, a daily deals aggregator which was just bought by 55Tuan in June of this year was reportedly shedding staff on large scale as the site is considering a significant revamp or even shutting down.

After the acquisition, Jieshi shopped another two aggregators to tap deeper into the market.

Though always in the media tuyere, it seems 55Tuan has been more than familiar with the idea of being controversial is good marketing. After all the awkward gossips such as downsizing 70%, being rejected by Credit Suisse, Goldman Sachs and Merrill Lynch when looking for underwriters, failing to pay up agency due to money shortage, be it rumor or scandal, 55Tuan still managed to top the list of Chinese group buying sites in terms of sales in August.

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Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.