Groupon has been eying China for sometime. But fierce local competition, failures of other online services (e.g. e-bay.cn,  google.cn) and culture issues may have prevented a Shanghi office from opening. So after months (if not years) of toying around with the idea, Groupon is finally opening shop in China with the brand GaoPeng.

Yesterday, I came across an interesting episode of Dragon’s Den about a company called Teambuy. It’s the Canadian version of Groupon. You know the site that lets you get things at incredibly discounted prices (+50% off retail.)