Yapingguo.com raises $50 million from Rothschild Group and CID Group of Taiwan.
The daily deal site has named former Yahoo executive Rob Solomon president and chief operating officer.
Groupon.com, a web site that offers a daily deal on the local goods, services and events in more than 40 U.S. cities, has named Rob Solomon president and chief operating officer.
Solomon has experience in senior management, business operations, product management and development, mergers and acquisition and strategy, the company says. Most recently, he was a partner at venture capital firm Technology Crossover Ventures. Before that, Solomon was the president and CEO of SideStep Inc., a search engine focusing on travel, where he worked on the company’s merger with travel search engine Kayak.com.
Prior to SideStep, Solomon held executive management roles at Yahoo Inc., including senior vice president, commerce, and vice president and general manager of the Yahoo Shopping Group responsible for the company`s shopping, travel, auction, classified, e-commerce hosting and vertical product search businesses. Vertical search refers to search dedicated to specific categories such as shopping or travel.
"We`re thrilled to have Rob on our team," says Groupon CEO Andrew Mason. "I think it speaks volumes about Groupon that we`re getting top Silicon Valley talent to do crazy things like move to Chicago."
Groupon, which launched in November 2008, features a daily deal on food and entertainment in major cities across the U.S. It plans to be in 100 cities by the end of the year.
“Groupon is one of those extremely special companies that are few and far between,” Solomon says. “They have already defined social commerce, and I’m exhilarated to help them take it even further.”