Cleary Gottlieb represented Life Media Limited in its acquisition of daily deals site Gaopeng Tuan, the joint venture of Groupon and Tencent Holdings, and in a new round of equity financing. The transactions closed on June 15.
Life Media Limited operates a deal-of-the-day website (known as “FTuan”) which offers discounted products and services from vendors in China. FTuan is one of the largest daily deals site companies in China, with over 2,000 employees covering over 250 locations throughout the mainland.
