Lashou Wakes up from a Nap?

After a string of unfortunates happened last year, like the massive layoff, delayed IPO, management shakeup and CEO Wu Bo resigning from his post, Lashou seemed to be in a downtrend, falling from the top spot to today’s No. 4 in Chinese group buying market.

And now, the Beijing-based startup appeared to be finally waking up from a nap as it reportedly initiated a new hiring plan involving more than 1100 positions.

Zhu Xiaohu from GSR Ventures, one of Lashou’s investors, said that after the painful period, Lashou’s finally back on track and wants to boost the morale with more new blood. “The group-buying industry is going back to be a market-oriented rather than a capital-centered one as it was before.”

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