Ganji.com, the Chinese classified site announced yesterday to cede operation of its group buying business to 55Tuan.com, another bigger player in the market.

The move shouldn’t be a big surprise and definitely doesn’t come out of blue since earlier last month, the Beijing-based company was rumored to cut off its group buying arm. Though Yang Yonghao, founder and CEO of Ganji later rebuffed the claim saying the business would be retained while some staff would be transferred to serve its new short accommodation service Mayi.com, a focus shifting in its product lines.

Ganji’s announcement

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Ben Jiang

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