Groupon, the web based company that allows consumers to purchase with others coupons for local restaurants and stores is now the fastest growing company ever. Recently it opened its doors to the largest Internet market in the world, China. With over 450 million Internet users, China is the largest Internet market in the world—almost double the U.S market. The company projects an estimated 2.6 billion dollars in revenue this year, and expects this estimated revenue to grow dramatically over the next several years. Currently Groupon is headhunting and positioning people to be ready for the websites launch. Chinese officials who strictly regulate all Chinese based websites pose the only concern.
Personally I believe this is the best thing that could happen, China is currently making money off many U.S manufacturing interests, and their industrial growth is suspected to surpass ours by 2015. The U.S needs faster growing companies and they need to access a Chinese market or else the trade balance will continue to remain unbalanced. Groupon may have had some controversial commercials about the conflict in Tibet—which is why Chinese lawmakers are concerned about the new website—however this business spunk is exactly what is America needs to foster. Service industries that grow quickly and easily access Chinese markets.
http://online.wsj.com/article/SB10001424052748703407304576154194268892656.html?mod=WSJ_Tech_LEFTTopNews
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