Group Shopping Website Lashou Gets $50m VC

Lashou.com, China's largest deal-of-the-day website, has received $50 million in its second round of fundraising from Tenaya Venture, Norwest Venture Partners, GSR Ventures and Rebate Network. It had previously received $10 million from Taishan Invest, Rebate Network and GSR Ventures. Lashou CEO Wu Bo said in September the website's monthly revenue had reached 10 million RMB.