Latecomer to the highly saturated group buying space, Baidu is testing the market through a “quiet launch” of its own group buying site. The site, managed by Baidu’s LBS division, is only available in Beijing initially.
It’s a pretty barebone operation according to Marbridge Consulting:
Payment for group buy deals is currently handled through online banking systems. Baidu has not yet developed partnerships with third-party payment platforms, and has not connected its own third-party payment tool, Baifubao, to the service.
The top 10 group buying sites in China account for 90 percent of the sales in 2012, making this market highly competitive.
photo credit: baidu