China’s Lashou Planning for US IPO

Lashou.com, China’s leading group-buying website, is said to be planning for an IPO here in the states, though no timeline has been given. Those familiar with the matter say that the company is looking for advisors to replace Morgan Stanley and Goldman Sachs, which are underwriters for Groupon’s IPO.

Lashou raised $110-million earlier this year in a round led by Milestone Capital and included past investors GSR Ventures, Norwest Partners, Taishan Invest AG and Tenaya Capital.  Previously, the company had raised $50 million with a valuation of around $500 million.

A number of reports from earlier this week are saying that Groupon has put its planned IPO on hold waiting for the global market to improve and to take care of questions raised by the SEC after a memo from CEO Andrew Mason to his employees touting the company was leaked to the media.

About Lashou.com

On March 18, 2010, Bo Wu, CEO of Lashou.com, created the group-purchasing model at “Time International” in Beijing where Lashou.com was formally launched. Within a year, Lashou.com has grown to be the largest group-purchasing website in China, and has ranked first in the market in terms of web site traffic, customer support, sales, and company size. It also creatively launched many innovative products such as “Many Groups Per Day,” “Lunch Killer Deals by the Seconds,” and “Hotel Channels.” For more information go to: www.lashou.com.

Source: China Daily