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Gaopeng Accused Over Counterfeit Tissot Watch

Gaopeng, the Groupon-Tencent JV in China was in trouble again. The Beijing-based group buying site was accused of selling counterfeit Tissot watches. Hundred of customers claimed that the RMB 690 yuan (US$108) Tissot watch they bought from a deal provided by Gaopeng wasn’t genuine, and was considering a class suit over the beleaguered website. Gaopeng […]

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Tencent VS Alibaba: A Scramble For B2C Businesses

Taobao Mall, the B2C arm of Taobao which brought in RMB30b ($4.6b) in sales last year and topped the list of B2C initiatives according to a report by market researcher iResearch announced its long-awaited B2C partnership strategy “Open B2C Platform” yesterday with local B2C sites including NYSE-listed Dangdang.com, Walmart backed Yihaodian.com, electronic retailer Gome’s online […]

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Ecommerce Outsourcer Yi-Inc Raised $20m in Series B;Tencent Leaks News About New B2C Platform;Pandora Coming To China Soon

1. Ecommerce Outsourcer Yi-Inc Raised $20m in Series B Yi-Inc, a Guangzhou-based ecommerce outsourcer that operates online shop for home appliance vendors including Philips, Midea and Galanz, announced raising $20m in Series B round of funding from Trust Bridge Partners, IDGVC and HongKong-based venture capital Big Profit. People would be no stranger to the official […]

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eBay Seeking Acquisition Targets in China

Techweb reported that that eBay is eyeing acquisition targets in China to expand its market share. eBay expects 2011 sales from Greater China to increase by 30-40% from last year’s USD$4 billion sales figure. Cautious of the high valuations, Asia Pacific Managing Director Jay Lee said “We will continue to identify suitable opportunities, but must […]

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Chinese B2C Online Retail Market Share in Q1 2011

Analysis International releases its research data on Chinese B2C online retail market share in Q1, 2011. It says that in Q1, 2011 the total transaction value of Chinese B2C online retail market has reached rmb 47.07 billions (~$7.3 billions). Taobao is still leading the market (31.4%), followed by 360buy (10.2%), Joyo (Amazon China, 2.3%) and […]