Shenzhen-listed Suning Commerce Group Co Ltd, China's leading retailer, announced on Jan 27 it has fully acquired Manzuo.com, which went online in January 2010 and was China's first group-buying website, according to cnstock.com. The exact details of the deal were not announced.
Manzuo.com was integrated into Suning's local life department and Fang Xiaohai, Manzuo's founder, stayed in Suning to expand the conglomerate's O2O business.
Group-buying deals worth 70.8 million yuan were made in the first eight months of this year on Manzuo.com, up by 3.74 percent year-on-year, according to Tuan800.
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| A photo shows an entry point of manzuo.com on Suning.com. [Photo/IC] |
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