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Chinese Internet Group Discount Buying Website Claims Higher Sales
Apr 12, 2012
Chinese group buying website Meituan.com has announced that its sales in March 2012 saw a record high of CNY301.587 million.
Prior to this, the privately-held company announced its performance for 2011, stating that its sales during the year reached a total of CNY1.819 billion, which marked a monthly average revenue of about CNY150 million.
In addition, according to the statistics provided by the third-party group buying navigation website Tuan800.com, in February 2012, Meituan.com's sales was CNY220 million, ranking first among Chinese group buying websites.
Launched on April 4, 2010, Meituan.com was one of the first batch of the new breed of group buying websites in China mimicking U.S.-based Groupon.com. At present, it has provided services in nearly 100 Chinese cities and reportedly has 2,500 employees across the country.