The Tick group issued a notice that will close the group buying business to new business model

March 4 Morning News, tick group issued a notice, will be formally closed on March 31, 2014, the future will turn to the new business model.

The tick-tock group was founded in July 2010 by Google's former sales general manager song in China. At the beginning of 2013, the tick group and the completion of the merger of the city, the merger of the new Dimensional city, continue to follow the group buy brand Tick Group, song continue to serve as the CEO of the new company.

The tick group has been invested in IDG, Kleiner, NEA, Greylock and Aurora.

The concentration of group buying industry is more and more obvious. According to statistics, last year ranked the top five of the purchase site turnover reached 33.81 billion yuan, accounting for 95.7% of the total, of which the top two in the United States and reviews are accounted for the entire industry throughout the year 66.3%.

In addition, as of January this year, the number of national group buying sites was only 213, down from September to 281. In the number of small and medium-sized Group purchase website, at the same time, some of the previous development of a good large group buy platform 24 coupons and thousands of goods have also disappeared.