Google (GOOG) Introduces Shihui Site in China... They’re Back!
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Google (Nasdaq: GOOG) is now making the move back into China after the country and company went their separate ways over a year ago.
Google launched a new portal called Shihui in China Tuesday. The new site is designed to catalog group-buying deals from the plethora of such sites in China.
Shuhui in English translates to "timely benefit."
Google has re-opened its domain Google.cn to launch the new site. Google closed the domain name over a year ago when Google said it was no longer going to let China sensor its searches and blamed China for allowing its citizens to hack the company.
The country's group-buying market is enormous with over 4,000 group-buying discount sites. Shihui will collect all of the deals and provide the user with options. This new site has positioned Google in one of China's fastest growing market segments without creating too much exposure.
In the past multiple problems have risen between Google and China, but Google is hoping those problems remain in the past as its new site deals strictly with e-commerce.
Shares of GOOG are currently trading down about 0.9 percent to around $525.65.
Google launched a new portal called Shihui in China Tuesday. The new site is designed to catalog group-buying deals from the plethora of such sites in China.
Shuhui in English translates to "timely benefit."
Google has re-opened its domain Google.cn to launch the new site. Google closed the domain name over a year ago when Google said it was no longer going to let China sensor its searches and blamed China for allowing its citizens to hack the company.
The country's group-buying market is enormous with over 4,000 group-buying discount sites. Shihui will collect all of the deals and provide the user with options. This new site has positioned Google in one of China's fastest growing market segments without creating too much exposure.
In the past multiple problems have risen between Google and China, but Google is hoping those problems remain in the past as its new site deals strictly with e-commerce.
Shares of GOOG are currently trading down about 0.9 percent to around $525.65.
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