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Gaopeng, Groupon’s Chinese joint venture, fired half of its copyrwriters today, TechWeb reports (translated version). That’s about 50 people.Many of Gaopeng’s employees wore black to work today in protest.
Back in the states, Groupon proper looks like it will run out of cash if it does not IPO soon.
We’ve managed to find reasons to be bullish on the company’s prospects, anyway.