Ubuyibuy seriously got to be so lucky to be acquired by Groupons cuz that's the only way to survive in this. If they originally planned to walk in themselves to HK, it will be like snakes against dragon.
Read that Groupon’s hiring in China, and it’s also not a secret any more that Groupon and Tencent is setting up a joint-venture company. Rumors say that they are recruiting 1000 staff and operating in more than 200 cities in China aiming the site to launch in May 2011, which means only 4 months time Groupon wants to lead the Chinese market.
With Tencent’s dumping its millions users, strong local connection and Groupon’s resources support, it is not hard to see how and where the JV will go in the coming 12 months.
Chinese Groupon-clones fight back with the fact that several leading Group-buying site, including Manzuo, Lashou, FTuan, 58 have agreed to form an alliance against Groupon’s intrusion.
I think it's time for HK group buy sites to gear up!