Mercurity Fintech Holding (MFH) 20-F 29 Apr 16 2015 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015shares
Entity Registrant Name	Wowo Ltd
Entity Central Index Key	1,527,762
Document Type	20-F
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	1,444,711,838
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash	$ 11,151,900	$ 1,317
Accounts receivable, net	3,748,398
Inventories, net	94,409
Prepaid expenses and other current assets	25,281,434	$ 227,110
Amounts due from related parties	$ 806,423
Current assets of discontinued operations		$ 10,077,125
Total current assets	$ 41,082,564	$ 10,305,552
Property and equipment, net	478,075
Acquired intangible assets, net	50,562,945
Goodwill	$ 250,650,500
Non-current assets of discontinued operations		$ 10,037,787
Total assets	$ 342,774,084	$ 20,343,339
Current liabilities:
Accounts payable (including accounts payable of the consolidated VIE without recourse to Wowo Limited of nil and $3,818,023 as of December 31, 2014 and 2015, respectively)	3,831,218
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIE without recourse to Wowo Limited of nil and $19,134,673 as of December 31, 2014 and 2015, respectively)	19,970,456
Advance from customers (including advance from customers of consolidated VIE entities without recourse to Wowo Limited of nil and $828,437 as of December 31, 2014 and 2015, respectively)	828,437
Amounts due to related parties (including amounts due to related parties of the consolidated VIE without recourse to Wowo Limited of nil and $319,767 as of December 31, 2014 and 2015, respectively)	$ 319,767
Current liabilities of discontinued operations		$ 67,500,288
Total current liabilities	$ 24,949,878	67,500,288
Non-current liabilities:
Amounts due to related parties (including amounts due to related parties of the consolidated VIE without recourse to Wowo Limited of nil and nil as of December 31, 2014 and 2015, respectively)		$ 61,965,277
Other non-current liabilities (including other non-current liabilities of the consolidated VIE without recourse to Wowo Limited of nil and nil as of December 31, 2014 and 2015, respectively)	$ 502,180
Deferred tax liabilities (including deferred tax liabilities of the consolidated VIE without recourse to Wowo Limited of nil and nil as of December 31, 2014 and 2015, respectively)	12,640,736
Total liabilities	$ 38,092,794	$ 129,465,565
Commitments and contingency (Note 18)
Mezzanine equity:
Total mezzanine equity		$ 124,653,928
Deficit:
Ordinary shares ($0.00001 par value; 1,827,462,652 shares authorized, 303,886,640 and 1,476,208,670 shares issued and outstanding as of December 31, 2014 and 2015, respectively)	$ 14,447	$ 3,039
Additional paid-in capital	630,469,782
Accumulated deficit	(326,711,132)	$ (233,140,944)
Accumulated other comprehensive (loss)/income	908,193	(681,493)
Total Wowo Limited shareholders' (deficit)/equity	$ 304,681,290	(233,819,398)
Non controlling interests of discontinued operations		43,244
Total (deficit)/equity	$ 304,681,290	(233,776,154)
Total liabilities, Mezzanine Equity and deficit/equity	$ 342,774,084	20,343,339
Series A-1 Preferred Shares [Member]
Mezzanine equity:
Total mezzanine equity		6,756,046
Series A-2 Preferred Shares [Member]
Mezzanine equity:
Total mezzanine equity		99,356,343
Series B Preferred Shares [Member]
Mezzanine equity:
Total mezzanine equity		$ 18,541,539

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parantheticals) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accounts payable	$ 3,831,218
Accrued expenses and other current liabilities	19,970,456
Advance from customers	828,437
Amounts due to related parties	$ 319,767
Amounts due to related parties		$ 61,965,277
Other non-current liabilities	$ 502,180
Deferred tax liabilities	$ 12,640,736
Ordinary shares, par value (in dollars per share)	$ 0.00001	$ 0.00001
Ordinary shares, shares authorized	1,827,462,652	1,827,462,652
Ordinary shares, shares issued	1,476,208,670	303,886,640
Common shares, shares outstanding	1,476,208,670	303,886,640
Series A-1 Preferred Shares [Member]
Convertible redeemable preferred shares, par value (in dollars per share)	$ 0.00001	$ 0.00001
Convertible redeemable preferred shares, shares authorized	20,000,000	20,000,000
Convertible redeemable preferred shares, shares issued		12,202,988
Convertible redeemable preferred shares, shares outstanding		12,202,988
Convertible redeemable preferred shares, liquidation value		$ 10,055,909
Series A-2 Preferred Shares [Member]
Convertible redeemable preferred shares, par value (in dollars per share)	$ 0.00001	$ 0.00001
Convertible redeemable preferred shares, shares authorized	122,029,877	122,029,877
Convertible redeemable preferred shares, shares issued		122,029,877
Convertible redeemable preferred shares, shares outstanding		122,029,877
Convertible redeemable preferred shares, liquidation value		$ 100,559,091
Series B Preferred Shares [Member]
Convertible redeemable preferred shares, par value (in dollars per share)	$ 0.00001	$ 0.00001
Convertible redeemable preferred shares, shares authorized	30,507,471	30,507,471
Convertible redeemable preferred shares, shares issued		30,507,471
Convertible redeemable preferred shares, shares outstanding		30,507,471
Convertible redeemable preferred shares, liquidation value		$ 25,139,774
VIEs [Member]
Accounts payable	$ 3,818,023
Accrued expenses and other current liabilities	19,134,673
Advance from customers	828,437
Amounts due to related parties	$ 319,767
Amounts due to related parties
Other non-current liabilities
Deferred tax liabilities

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues	$ 11,477,552
Cost of revenues	(13,220,386)
Gross loss	(1,742,834)
Operating expenses:
Selling and marketing	(5,360,044)
General and administrative (including share-based compensation of nil, $4,190,449 and nil for the years ended December 31, 2013, 2014 and 2015, respectively)	(12,911,773)	$ (4,323,253)	$ (73,090)
Impairment of goodwill	(85,934,770)
Total operating expenses	(104,206,587)	$ (4,323,253)	$ (73,090)
Loss from operations	(105,949,421)	(4,323,253)	(73,090)
Interest income	7,392	$ 4	$ 1
Other expenses, net	46,210
Loss before provision for income taxes	(105,895,819)	$ (4,323,249)	$ (73,089)
Provision for income tax benefits	1,249,696
Continuing operations	(104,646,123)	$ (4,323,249)	$ (73,089)
Discontinued operations:
(Loss)/income from discontinued operations (including gain of $47,390,421 upon disposal in the year ended December 31, 2015)	$ 11,075,935	$ (39,546,576)	(32,179,774)
Provision for income tax benefits			80,519
Discontinued operations	$ 11,075,935	$ (39,546,576)	(32,099,255)
Net loss	$ (93,570,188)	(43,869,825)	$ (32,172,344)
Less: Net loss attributable to noncontrolling interests		(13,478)
Net loss attributable to Wowo Limited	$ (93,570,188)	(43,856,347)	$ (32,172,344)
Net loss attributable to holders of ordinary shares of Wowo Limited	$ (95,935,539)	$ (84,670,856)	$ (69,814,192)
Net loss per ordinary shares
Basic	$ (0.09)	$ (0.28)	$ (0.23)
Diluted	(0.09)	(0.28)	(0.23)
Net loss per ordinary share from continuing operations
Basic	(0.10)	(0.03)	0
Diluted	(0.10)	(0.03)	0
Net loss per ordinary shares from discontinued operations
Basic	0.01	(0.25)	(0.23)
Diluted	$ 0.01	$ (0.25)	$ (0.23)
Basic
Continuing operations	1,001,754,524	303,886,640	303,886,640
Discontinued operations	1,001,754,524	303,886,640	303,886,640
Diluted
Continuing operations	1,001,754,524	303,886,640	303,886,640
Discontinued operations	1,043,473,265	303,886,640	303,886,640
Series A-1 Preferred Shares [Member]
Discontinued operations:
Accretion for convertible redeemable preferred shares	$ 442,409	$ 1,445,125	$ 1,199,007
Net loss per ordinary shares
Basic	$ 0.14	$ 0.12	$ 0.10
Net loss per ordinary shares from discontinued operations
Net income per preferred shares-Basic	$ 0.14	$ 0.12	$ 0.10
Basic
Continuing operations	3,242,986	12,202,988	12,202,988
Weighted average shares used in calculating net loss per
Weighted average shares used in calculating net loss per preferred shares	3,242,986	12,202,988	12,202,988
Series A-2 Preferred Shares [Member]
Discontinued operations:
Accretion for convertible redeemable preferred shares	$ 1,202,748	$ 36,947,001	$ 34,336,421
Net loss per ordinary shares
Basic	$ 0.04	$ 0.30	$ 0.28
Net loss per ordinary shares from discontinued operations
Net income per preferred shares-Basic	$ 0.04	$ 0.30	$ 0.28
Basic
Continuing operations	32,429,858	122,029,877	122,029,877
Weighted average shares used in calculating net loss per
Weighted average shares used in calculating net loss per preferred shares	32,429,858	122,029,877	122,029,877
Series B Preferred Shares [Member]
Discontinued operations:
Accretion for convertible redeemable preferred shares	$ 720,194	$ 2,422,383	$ 2,106,420
Net loss per ordinary shares
Basic	$ 0.09	$ 0.08	$ 0.07
Net loss per ordinary shares from discontinued operations
Net income per preferred shares-Basic	$ 0.09	$ 0.08	$ 0.07
Basic
Continuing operations	8,107,465	30,507,471	30,507,471
Weighted average shares used in calculating net loss per
Weighted average shares used in calculating net loss per preferred shares	8,107,465	30,507,471	30,507,471

CONSOLIDATED STATEMENTS OF OPE5

CONSOLIDATED STATEMENTS OF OPERATIONS (Parantheticals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gain on disposal	$ 47,390,421
General and administrative [Member]
Share-based compensation		$ 4,190,449

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract]
Net loss	$ (93,570,188)	$ (43,869,825)	$ (32,172,344)
Other comprehensive (loss)/income, net of tax of nil:
Change in cumulative foreign currency translation adjustment	1,589,686	2,031,505	(1,390,936)
Comprehensive loss	$ (91,980,502)	(41,838,320)	$ (33,563,280)
Less: comprehensive loss attributable to noncontrolling interests		(13,353)
Comprehensive loss attributable to Wowo Limited's shareholders	$ (91,980,502)	$ (41,824,967)	$ (33,563,280)

CONSOLIDATED STATEMENTS OF COM7

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Paranthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract]
Other comprehensive loss, tax

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Total	Total Wowo Limited shareholders' deficit [Member]	Ordinary shares [Member]	Additional paid-in capital [Member]	Subscription receivable [Member]	Accumulated deficit [Member]	Accumulated other comprehensive loss [Member]	Noncontrolling interest [Member]
Beginning Balance at Dec. 31, 2012	$ (86,593,485)	$ (86,593,485)	$ 3,039	$ 43,761,660	$ (3,000)	$ (129,033,247)	$ (1,321.937)
Beginning Balance (in shares) at Dec. 31, 2012			303,886,640
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion for Series A1, Series A2 and Series B convertible redeemable preferred shares	(37,641,848)	(37,641,848)		$ (37,641,848)
Net loss	(32,172,344)	(32,172,344)				$ (32,172,344)
Share-based compensation	909,904	909,904		$ 909,904
Other comprehensive loss	(1,390,936)	(1,390,936)					$ (1,390,936)
Ending Balance at Dec. 31, 2013	(156,888,709)	(156,888,709)	$ 3,039	$ 7,029,716	$ (3,000)	$ (161,205,591)	$ (2,712,873)
Ending Balance (in shares) at Dec. 31, 2013			303,886,640
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion for Series A1, Series A2 and Series B convertible redeemable preferred shares	(40,814,509)	(40,814,509)		$ (12,735,503)		(28,079,006)
Net loss	(43,869,825)	(43,856,347)				$ (43,856,347)		$ (13,478)
Share-based compensation	5,762,384	5,762,384		$ 5,762,384
Subscription received	$ 3,000	3,000			$ 3,000
Partial disposal of a VIE		(56,597)		$ (56,597)				$ 56,597
Other comprehensive loss	$ 2,031,505	2,031,380					$ 2,031,380	125
Ending Balance at Dec. 31, 2014	$ (233,776,154)	(233,819,398)	$ 3,039			$ (233,140,944)	$ (681,493)	$ 43,244
Ending Balance (in shares) at Dec. 31, 2014	303,886,640		303,886,640
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon IPO	$ 37,294,600	$ 37,294,600	$ 760	$ 37,293,840
Issuance of ordinary shares upon IPO, shares			75,960,000
Ordinary shares converted to ADS shares for future exercise of share options (Note 12)
Ordinary shares converted to ADS shares for future exercise of share options (Note 12), shares			31,496,832
Options exercised	$ 105,908	$ 105,908	$ 69	$ 105,839
Options exercised, shares			6,866,280
Conversion of Mr. Xu's indebtness into ordinary shares	69,353,223	69,353,223	$ 1,248	69,351,975
Conversion of Mr. Xu's indebtness into ordinary shares, shares			124,835,802
Conversion of Series A-1, Series A-2 and Series B convertible redeemable preferred shares into ordinary shares	127,019,279	127,019,279	$ 1,647	127,017,632
Conversion of Series A-1, Series A-2 and Series B convertible redeemable preferred shares into ordinary shares, shares			164,740,336
Issuance of shares as a consideration for acquisition of JMU	376,964,937	376,964,937	$ 7,414	376,957,523
Issuance of shares as a consideration for acquisition of JMU, shares			741,422,780
Issuance of ordinary shares to Mr. Xu	15,000,000	15,000,000	$ 270	14,999,730
Issuance of ordinary shares to Mr. Xu, shares			27,000,000
Purchase the noncontrolling interests of subsidiaries	(111,250)	(68,006)		(68,006)				$ (43,244)
Accretion for Series A1, Series A2 and Series B convertible redeemable preferred shares	(2,365,351)	(2,365,351)		$ (2,365,351)
Net loss	(93,570,188)	(93,570,188)				$ (93,570,188)
Share-based compensation	7,176,600	7,176,600		$ 7,176,600
Other comprehensive loss	1,589,686	1,589,686					$ 1,589,686
Ending Balance at Dec. 31, 2015	$ 304,681,290	$ 304,681,290	$ 14,447	$ 630,469,782		$ (326,711,132)	$ 908,193
Ending Balance (in shares) at Dec. 31, 2015	1,476,208,670		1,476,208,670

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (93,570,188)	$ (43,869,825)	$ (32,172,344)
Less: Net (loss)/income from discontinued operations	11,075,935	(39,546,576)	(32,099,255)
Net loss from continuing operations	$ (104,646,123)	(4,323,249)	$ (73,089)
Adjustments to reconcile net income(loss) to net cash used in operating activities:
Share-based compensation		$ 4,190,449
Depreciation and amortization	$ 4,949,036
Impairment of goodwill	85,934,770
Changes in operating assets and liabilities:
Accounts receivable	(3,008,932)
Inventories, net	957,133
Amount due from related parties	8,512,188
Prepaid expenses and other current assets	(18,524,604)	$ (110,778)	$ (116,968)
Accounts payable	1,873,123
Amounts due to related parties	(2,739,467)
Accrued expenses and other current liabilities	16,708,637	$ (16,863)	$ (42,866)
Other non-current liabilities	502,180
Deferred income taxes	(1,249,696)
Net cash used in continuing operations	(10,731,755)	$ (260,441)	$ (232,923)
Net cash used in discontinued operations	(22,799,544)	(31,699,619)	(28,520,393)
Net cash used in operating activities	(33,531,299)	$ (31,960,060)	$ (28,753,316)
Cash flows from investing activities:
Purchase of property and equipment	(93,317)
Payments for acquisition of business (net of cash acquired of nil, nil and $20,196,362 for the years ended December 31, 2013, 2014 and 2015, respectively)	(9,803,638)
Net cash used in continuing operations	(9,896,955)
Net cash provided by (used in) discontinued operations	(1,999,364)	$ (586,534)	$ 2,118,463
Net cash provided by (used in) investing activities	(11,896,319)	$ (586,534)	$ 2,118,463
Cash flows from financing activities:
Proceeds from issuance of ordinary shares upon IPO	40,294,600
Payments for IPO costs	(2,125,372)	$ (874,628)
Received from / (Payment to) related parties	$ (250,000)	36,291,479	$ 24,587,142
Subscription proceeds received		$ 3,000
Proceeds from option exercise			$ 53,136
Proceeds from issuance of ordinary shares to Mr. Xu	$ 15,000,000
Net cash provided by (used in) continuing operations	52,919,228	$ 35,419,851	$ 24,640,278
Net cash provided by discontinued operations	1,963,650	(1,651,880)	(1,904,218)
Net cash provided by financing activities	54,882,878	33,767,971	22,736,060
Effect of exchange rate changes	50,468	5,490	70,724
(Decrease)/Increase in cash	9,505,728	1,226,867	(3,828,069)
Cash, beginning of the year	1,317	419,305	4,247,374
Cash, end of the year	$ 11,151,900	$ 1,317	419,305
Supplement disclosure of cash flow information:
Income taxes paid			2,727
Interest paid		$ 104,084	$ 136,655

CONSOLIDATED STATEMENTS OF CA10

CONSOLIDATED STATEMENTS OF CASH FLOWS (Paranthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Payments for acquisition of business, cash acquired	$ 20,196,362

ORGANIZATION AND PRINCIPAL ACTI

ORGANIZATION AND PRINCIPAL ACTIVITIES	12 Months Ended
	Dec. 31, 2015
ORGANIZATION AND PRINCIPAL ACTIVITIES
ORGANIZATION AND PRINCIPAL ACTIVITIES	1. ORGANIZATION AND PRINCIPAL ACTIVITIES Wowo Limited (the "Company") was incorporated in Cayman Islands on July 13, 2011. The Company and its subsidiaries, variable interest entities ("VIEs") and VIEs' subsidiaries (the "Group") are primarily engaged in providing the e-commerce platform networking services, focusing on local entertainment and lifestyle services such as restaurants, movie theaters and beauty salons and also allow local merchants to create online stores and make direct sales to their target customers for consumption at their brick and mortar stores in the People's Republic of China ("PRC"). On April 8, 2015, the Company completed its IPO in NASDAQ ("National Association of Securities Dealers Automated Quotation") by offering 4 72 35.2 220,000 3.96 10 2.1 On June 5, 2015, the Company and its wholly owned subsidiary, New Admiral Limited ("New Admiral") entered into an agreement to acquire Join Me Group (HK) Investment Company Limited ("JMU") with a consideration of 741,422,780 30,000,000 ccjoin.com On September 9, 2015, the Company sold all of its equity interests in Wowo Group Limited, a subsidiary of the Company, together with all of its subsidiaries and consolidated VIEs and their respective subsidiaries (collectively, the "Group Buying Entities"), which were engaged in the Company's group buying business and other non-foodservice-related businesses. The sale was pursuant to a definitive agreement entered into between the Company and Century Winning Limited, an exempted company with limited liability incorporated under the laws of the British Virgin Islands (the "Buyer"), in exchange for the Buyer's payment of $ 1 47,390,420 This disposal represents a strategic shift and has a major effect on the Group's results of operations. Accordingly, assets and liabilities, revenues and expenses, and cash flows related to the Group Buying Entities have been reclassified in the accompanying consolidated financial statements as discontinued operations for all periods presented. The consolidated balance sheets as of December 31, 2014, the consolidated statements of operations and the consolidated statements of cash flows for the years ended December 31, 2013 and 2014 are adjusted retrospectively to reflect this change. Additionally, the presentation of the accompanying notes will not include the financial information as of and for the year ended December 31, 2014 if they were nil due to the disposal mentioned above. As of December 31, 2015, details of the Group's subsidiaries, VIE and VIE's subsidiaries were as follows: Date of acquisition/ incorporation Place of establishment/ incorporation Percentage of legal ownership Subsidiaries: New Admiral Limited ("New Admiral") April 27, 2015 Cayman Islands 100 Join Me Group (HK) Investment Company Limited ("JMU") June 8, 2015 Hong Kong 100 Join Me Group Supply Chain Management Company Limited("JMU Supply Chain") October 15, 2015 Hong Kong 100 Shanghai Zhongming Supply Chain Management Co., Ltd. ( "Shanghai Zhongming" or "WOFE" ) June 8, 2015 PRC 100 VIE: Shanghai Zhongmin Supply Chain Management Co., Ltd. ("Shanghai Zhongmin") June 8, 2015 PRC N/A VIE's subsidiaries: Hefei Zhonglian Supply Chain Management Co., Ltd. ("Hefei Zhonglian") June 8, 2015 PRC N/A Suzhou Zhongming Internet Technology Co., Ltd. ( "Suzhou Zhongming") June 8, 2015 PRC N/A Shanghai Zhonglan Supply Chain Management Co., Ltd. ("Shanghai Zhonglan") June 8, 2015 PRC N/A Shanghai Changzhong Supply Chain Management Co., Ltd. ("Shanghai Changzhong") June 8, 2015 PRC N/A Ningbo Jiangdong Zhongmin Supply Chain Management Co., Ltd. ( “ Ningbo Jiangdong ” ) June 8, 2015 PRC N/A Nanjing Zhongminyuan Internet Technology Co., Ltd. ( “ Nanjing Zhongminyuan ” ) June 8, 2015 PRC N/A Wuhan Zhongmin Supply Chain Management Co., Ltd. ( “ Wuhan Zhongmin ” ) June 8, 2015 PRC N/A Nanchang Zhongmin Supply Chain Management Co., Ltd. ( “ Nanchang Zhongmin ” ) June 8, 2015 PRC N/A Yanbian Zhongyue Supply Chain Management Co., Ltd. ( “Yanbian Zhongyue” ) June 8, 2015 PRC N/A Beijing Zhonglan Supply Chain Management Co., Ltd. ( “Beijing Zhonglan” ) June 8, 2015 PRC N/A Zhenjiang Zhongyuan Supply Chain Management Co., Ltd. ( “Zhenjiang Zhongyuan” ) June 8, 2015 PRC N/A Taiyuan Zhongmin Supply Chain Management Co., Ltd. ( “Taiyuan Zhongmin” ) June 8, 2015 PRC N/A The VIE arrangements The PRC laws and regulations currently place certain restrictions on foreign ownership of companies that engage in internet content and other restricted businesses. Specifically, foreign investors are not allowed to own more than 50 of the equity interests in any entity conducting internet content and other restricted businesses. To comply with these PRC laws and regulations, the Company conducts substantially all its businesses through the VIE and VIE's subsidiaries. To provide the Company control over the VIE and the rights to the expected residual returns of the VIE and VIE's subsidiaries, WOFE entered into a series of contractual arrangements as described below with the VIE including Shanghai Zhongmin and their shareholders. Prior to the acquisition of JMU, JMU formed contractual arrangements through its wholly owned subsidiary Zhongming with the VIE. As a result of the Company's acquisition of JMU, the Company through JMU's wholly owned subsidiary, Zhongming,has (1) power to direct the activities of the VIE that most significantly affect the entity's economic performance and (2) the right to receive economic benefits of the VIE that could be significant to the VIE. Accordingly, the Company is considered the primary beneficiary of the VIE and has consolidated the VIE's financial results of operations, assets, and liabilities in the Company's consolidated financial statements. The Company also believes that this ability to exercise control ensures that the VIE will continue to execute and renew the exclusive consulting and services agreements and pay service fees to the Company. The ability to charge service fees in amounts determined at the Company's sole discretion, and by ensuring that the exclusive services agreements are executed and renewed indefinitely, the Company has the right to receive substantially all of the economic benefits from the VIE. • Agreements that Transfer Economic Benefits and Risks to the Company Master Exclusive Service Agreement and Business Cooperation Agreement 30 • Agreements that Provide the Company with Effective Control over VIE Equity Pledge Agreements . The shareholder of Zhongmin entered into an equity pledge agreement with the WOFE, under which the shareholder pledged all of the equity interests in Zhongmin to WOFE as collateral to secure performance of all obligations under the Master Exclusive Service Agreement, Business Cooperation Agreement, Proxy Agreement and Power of Attorney and the Exclusive Option Agreement (collectively, the "Principal Agreement"). The dividends generated by the pledged equity interests shall be deposited into the account designated by the WOFE and shall be used to pay the secured indebtedness prior and in preference to any other payment during the term of the pledge. If any event of default incurred under the Principal Agreement, WOFE, as the pledgee, will be entitled to dispose of the pledged equity interests and shall be paid in priority with the proceeds recovered from the disposal. Proxy Agreement and Power of Attorney . The shareholders of Zhongmin signed an irrevocable Proxy Agreement and Power of Attorney to appoint WOFE as the attorney-in-fact to act on Zhongmin's shareholder's behalf on all rights that the shareholder has in respect of such shareholder's equity interest in Zhongmin conferred by relevant laws and regulations and the articles of association of Zhongmin. The rights include but not limited to attending shareholders meeting, exercising voting rights and transferring all or a part of the equity interests of Zhongmin held by the shareholder. The Proxy Agreement and Power of Attorney shall remain effective upon written confirmation issued by WOFE to Zhongmin and the shareholder 30 Exclusive Option Agreements no 30 no Risks in relation to the VIE structure . The Company believes that Zhongming's s and are legally enforceable. The shareholders of the VIE are also shareholders of the Company and therefore have no current interest in seeking to act contrary to the contractual arrangements. However, uncertainties in the PRC legal system could limit the Company's ability to enforce these contractual arrangements and if the shareholders were to reduce their interest in the Company, their interests may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms , for example by influencing the VIE not to pay the service fees when required to do so. The Company's ability to control the VIE also depends on the power of attorney. Zhongming has to vote on all matters requiring shareholder approval in the VIE entity. As noted above, the Company believes this power of attorney is legally enforceable but may not be as effective as direct equity ownership. In addition, if the legal structure and contractual arrangements were found to be in violation of any existing PRC laws and regulations, the PRC regulatory authorities could: • revoke the Group's business and operating licenses; • require the Group to discontinue or restrict its operations; • restrict the Group's right to collect revenues; • restrict or prohibit the Group to finance its business and operations in China; • shut down our servers or block the Group's website; • require the Group to restructure our operations; • impose additional conditions or requirements with which the Group might not be able to comply, levy fines, confiscate the Group's income or the income of its PRC subsidiary or affiliated PRC entities; or • take other regulatory or enforcement actions against the Group that could be harmful to its business. The imposition of any of these penalties could result in a material adverse effect on the Group's ability to conduct the Group's business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIE, VIE's subsidiaries, or the right to receive their economic benefits, the Group would no The following financial statement balances and amounts of the VIE and VIE's subsidiaries were included in the accompanying audited consolidated financial statements as follows after the elimination of intercompany balances and transactions as of and for the year ended December 31, 2015: December 31, 2015 Cash $ 2,137,414 Accounts receivable, net 3,748,398 Prepaid expenses and other current assets 19,919,504 Inventories, net 94,409 Amounts due from related parties 661,275 Total current assets 26,561,000 Property and equipment, net 317,186 Total non-current assets 317,186 Total assets $ 26,878,186 Accounts payable 3,818,023 Accrued expenses and other current liabilities 19,134,673 Advance from customers 828,437 Amounts due to related parties 319,767 Total current liabilities 24,100,900 Total liabilities $ 24,100,900 For the year ended December 31, 2015 Revenues $ 11,477,552 Net loss $ (8,052,187) For the year ended December 31, 2015 Net cash provided by operating activities $ 238,302 Net cash used in investing activities $ (44,228) Net cash provided by financing activities $ — The VIE contributed an aggregate of nil nil 100 , 2013, 2014 and 2015, respectively. As of December 31, 2014 and 2015, the VIE accounted for an aggregate of nil 7.8 nil 63.3 respectively, of the consolidated total liabilities. The assets not associated with the VIE primarily consist of cash and cash equivalents, prepaid expenses and other current assets and property and equipment. The recognized and unrecognized revenue-producing assets that are held by the VIE are primarily property and equipment. There are no consolidated VIE's assets that are collateral for the VIE's obligations and can only be used to settle the VIE's obligations. There are no creditors (or beneficial interest holders) of the VIE that have recourse to the general credit of the Company or any of its consolidated subsidiaries. There are no terms in any arrangements, considering both explicit arrangements and implicit variable interests that require the Company or its subsidiaries to provide financial support to the VIE. However, if the VIE ever need financial support, the Company or its subsidiaries may, at its option and subject to statutory limits and restrictions, provide financial support to its VIE through loans to the shareholder of the VIE or entrustment loans to the VIE. Relevant PRC laws and regulations restrict the VIE from transferring a portion of their net assets, equivalent to the balance of its statutory reserve and its share capital, to the Company in the form of loans and advances or cash dividends. Please refer to Note 20 for disclosure of restricted net assets.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
GOING CONCERN
GOING CONCERN	2. GOING CONCERN The Group experienced a net loss of approximately 32.2 43.9 93.6 28.8 32.0 33.5 million for the years ended December 31, 2013, 2014 and 2015, respectively. These conditions raise substantial doubt about the Group's ability to continue as a going concern. However, management believes the Group has the ability to fulfill its financial obligations and will continue as a going concern because its primary shareholders, Ms. Xiaoxia Zhu and Ms. Huimin Wang, have agreed in writing to provide adequate funds to enable the Group to meet in full its financial obligations as they fall due through December 31, 2017. In April 2016, Ms. Huimin Wang provided interest-free loan to fund the Group's daily operations with total amounts of $ 6,174,920 40,000,000 The Group believes that it can realize its assets and satisfy its liabilities in the normal course of business with the financial support from Ms. Xiaoxia Zhu and Ms. Huimin Wang. As a result, the consolidated financial statements have been prepared assuming the Group will continue as a going concern. The accompanying consolidated financial statements do not reflect any adjustments relating to the recoverability and reclassification of assets and liabilities as that might be necessary if the Group is unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (‘‘US GAAP''). Basis of consolidation The consolidated financial statements of the Group include the financial statements of the Company, and its consolidated subsidiaries, VIE and VIE's subsidiaries which are accounted for under the voting interest model. All intercompany transactions and balances have been eliminated upon consolidation. Business combinations Business combinations are recorded using the acquisition method of accounting. The assets acquired, the liabilities assumed, and any noncontrolling interest of the acquiree at the acquisition date, if any, are measured at their fair values as of that date. Goodwill is recognized and measured as the excess of the total consideration transferred plus the fair value of any noncontrolling interests of the acquiree, if any, at the acquisition date over the fair values of the identifiable net assets acquired. Cash is the common form of the consideration paid for acquisitions. Consideration transferred in a business acquisition is measured at the fair value as at the date of acquisition. Discontinued operations A disposal of a component of an entity or a group of components of an entity shall be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations. Classification as a discontinued operation occurs upon disposal or when the operation meets the criteria to be classified as held for sale, if earlier. Where an operation is classified as discontinued, a single amount is presented on the face of the consolidated statements of operations. The amount of total current assets, total non-current assets, total current liabilities and total non-current liabilities are presented separately on the consolidated balance sheets. Revenue recognition The Group recognizes revenue from the sales of rice, flavor, bean oil, seafood, wine and some other type of generic food and beverage products through its online platform ccjoin.com The Group utilizes delivery service providers to dispatch goods to its customers directly from its own warehouses. The Group recognizes revenue when the customers confirm the acceptance of the goods online once they receive the delivered goods. If the customers do not confirm the receipt of goods online timely, the online system will confirm automatically after the seven days from the delivery date. The sales returns are considered and estimated when the revenue recognized, but the historical returns on sales on ccjoin.com are inconsequential. Revenue is recorded net of surcharges and value-added tax ("VAT") and related surcharges. The Group primarily generates revenue from online direct sales and online platform services.. Online direct sales The Group primarily sells rice, flavor, bean oil, seafood, wine and some other type of generic food and beverage products through online direct sales. The Group recorded revenue from online direct sales on a gross basis because the Group has the following indicators for gross reporting: it is the primary obligor of the sales arrangements, is subject to inventory risks of physical loss, has latitude in establishing prices, has discretion in suppliers' selection and assumes credit risks on receivables from customers. The Group also retains some of general inventory risks despite its arrangements to return goods to some vendors. Online platform services The Group also provides the online platform services to third-party sellers and purchasers for their transactions. The Group records the related revenue on a net basis, because the Group generally is not the primary obligor, does not bear the inventory risk, does not have the ability to establish the price and control the related shipping services when the online platform is utilized by third-party sellers and purchasers. For the year ended December 31, 2015, the Group did not charge any services fees to the third-party sellers and purchasers. Value-added tax Value added tax ("VAT") on sales is calculated at 17 13 Cost of revenue Costs of revenues primarily consist of purchased cost of the products sold related to online direct sales, payroll of the operating personnel, website hosting cost, processing fees paid to third-party payment platform, logistic fees paid to the third-party courier companies and amortization of acquired trade name/domain name. Selling and marketing expenses Selling and marketing expenses consist primarily of advertising and market promotion expenses, and other overhead expenses incurred by the Group's sales and marketing personnel. Advertising expenses are expensed as incurred. Use of estimates The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Significant accounting estimates reflected in the Group's consolidated financial statements include useful lives and impairment for property and equipment and acquired intangible assets, impairment of goodwill, valuation allowance for deferred tax assets, return allowance, fair value of ordinary shares, share-based compensation and purchase price allocation. Actual results could differ from those estimates. Cash Cash consist of cash on hand and bank deposits, which are unrestricted as to withdrawal and use, and have original maturities of three months or less when purchased. Accounts receivable Accounts receivable represents those receivables derived in the ordinary course of business, net of allowance for doubtful accounts. Allowance for doubtful accounts The Group maintains an allowance for doubtful accounts for estimated losses on uncollected accounts receivable. Management considers the following factors when determining the collectability of specific accounts: creditworthiness of customers, aging of the receivables, past transaction history with customers and their current condition, changes in customer payment terms, specific facts and circumstances, and the overall economic climate in the industries the Group serves. Inventories Inventory is stated at the lower of cost or market. Cost of inventory is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventory to the estimated market value for slow-moving merchandise and damaged goods. The amount of written-down depends upon factors such as whether the goods are returnable to vendors, historical and forecasted consumer demand, market condition and the promotional environment. Written-down amounts are recorded in cost of goods sold in the consolidated statements of income (loss) and comprehensive loss, which were nil for the years ended December 31, 2013, 2014 and 2015. Property and equipment, net Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives: Computer and software 3 10 Acquired intangible assets Acquired intangible assets with finite lives are carried at cost less accumulated amortization and impairment. Amortization of customer relationship is calculated using the estimated attrition pattern. Amortization of other finite lived intangible assets is calculated on a straight-line basis over the shorter of the contractual terms or the expected useful lives of the acquired assets. The amortization period by major intangible asset classes is as follows: Trade name/domain name 10 Non-compete agreement 4.5 Online platform 5 Customer relationship 5 10 Impairment of intangible assets with finite life The Group evaluates the recoverability of its intangible assets with finite lives, whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the intangible assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the excess of carrying amount over the fair value of the assets. Considering that the Group has recurring operating losses, the Group has determined to perform the annual impairment tests on December 31 of each year. As a result of the annual impairment test, no impairment loss was recognized for the years ended December 31, 2013, 2014 and 2015. Impairment of goodwill The Group annually, or more frequently if the Group believes indicators of impairment exist, reviews the carrying value of goodwill to determine whether impairment may exist. Specifically, goodwill impairment is determined using a two-step process. The first step compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit's goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. Estimating fair value is performed by utilizing various valuation techniques, with the primary technique being a discounted cash flow. The Group has determined to perform the annual impairment tests on December 31 of each year. Prior to the acquisition of JMU, goodwill was attributable to the Group Buying business which is classified as discontinued operations in the year ended December 31, 2015. No goodwill impairment loss was recognized for this business for the years ended December 31, 2013 and 2014. The goodwill as of December 31, 2015 was attributable solely to the JMU business on which an impairment loss of $ 85,934,770 Operating leases Leases where substantially all the rewards and risks of the ownership of the assets remain with the leasing companies are accounted for as operating leases. Payments made for the operating leases are charged to the consolidated statements of operations on a straight-line basis over the lease term and have been included in the operating expenses in the consolidated statements of operations. Income taxes Current income taxes are provided in accordance with the laws and regulations applicable to the Company as enacted by the relevant tax authorities. Deferred income taxes are recognized for temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Net operating loss carry forwards and credits are applied using enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities. The impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes. Foreign currency translation The functional and reporting currency of the Company is the United States dollar (“U.S. dollars”). The functional currency of the Company's HK subsidiary JMU is Hong Kong dollars (“HK dollars”). The financial records of the Group's subsidiaries, VIE and VIE's subsidiaries located in the PRC are maintained in their local currencies, the Renminbi (“RMB”), respectively, which are also the functional currencies of these entities. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling on the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statements of operations. The Company's entities with functional currency of RMB and HK dollars translate their operating results and financial position into the U.S. dollars, the Group's reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive loss. Share-based payments Share-based payment awards with employees are measured based on the grant date fair value of the equity instrument issued, and recognized as compensation costs net of an estimated forfeiture rate using the straight-line method over the requisite service period, which is generally the vesting period of the options, with a corresponding impact reflected in additional paid-in capital. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or is expected to differ, from such estimate. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of share-based compensation expenses to be recognized in future years. Comprehensive loss Comprehensive loss includes net loss and foreign currency translation adjustments and is presented net of tax, the tax effect is nil for the years ended December 31, 2013, 2014 and 2015. Concentration of credit risk Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash. The Group places its cash and cash equivalents with financial institutions with high-credit ratings and quality Customers accounting for 10% or more of total revenue are: For the year ended December 31, Customer 2015 A 28.4 % Customers accounting for 10% or more of accounts receivable are: As of December 31, Customer 2015 A 99.9 % Fair value Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows: ¨ Level 1—inputs are based upon quoted prices for instruments traded in active markets. ¨ Level 2—inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based calculation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ¨ Level 3—inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, cash flow models, and similar techniques. Fair value of financial instruments Financial instruments include cash and cash equivalents, amounts due from/to related parties, accounts receivable and accounts payable. The carrying values of cash, amounts due from/to related parties, accounts receivable and accounts payable approximate their fair values reported in the consolidated balance sheets due to the short-term maturities. Financial assets and liabilities measured at fair value on a non-recurring basis include acquired assets and liabilities and goodwill based on Level 3 inputs in connection with business acquisition set out in Note 4. Net loss per share Basic loss per ordinary share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. The Group's convertible redeemable participating preferred shares are participating securities as they participate in undistributed earnings on an as-if-converted basis. Accordingly, the Group uses the two-class method whereby undistributed net income is allocated on a pro rata basis to the ordinary shares and convertible redeemable participating preferred shares to the extent that each class may share in income for the period; whereas the undistributed net loss for the period is allocated to ordinary shares only because the convertible redeemable participating preferred shares are not contractually obligated to share the loss. Diluted loss per ordinary share reflects the potential dilution that could occur if securities were exercised or converted into ordinary shares. The Group had convertible redeemable participating preferred shares, stock options and restricted share units, which could potentially dilute basic loss per share in the future. To calculate the number of shares for diluted loss per ordinary share, the effect of the convertible redeemable participating preferred shares is computed using the as-if-converted method; the effect of the stock options and restricted share units is computed using the treasury stock method. Potential ordinary shares in the diluted net loss per share computation are excluded in periods of losses from continuing operations, as their effect would be anti-dilutive. Recent accounting pronouncements adopted In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updates ("ASU") 2014-08 which amends to change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in U.S. GAAP. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization's operations and financial results. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization's results from continuing operations. The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. Early adoption is permitted. The Company early adopted this ASU in January 2015. The effects of the pronouncement have been reflected in the consolidated financial statements. Recent accounting pronouncements not yet adopted In August, 2014, the FASB issued a new pronouncement ASU 2014-15 which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements. Further, an entity must provide certain disclosures if there is “substantial doubt about the entity's ability to continue as a going concern." The new standard is effective for fiscal years ending after December 15, 2016. Adoption of this guidance may have an effect on the Group's consolidated financial statements but the impact has not yet been evaluated by the Group. In February 2015, FASB issued a new pronouncement Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. On August 12, 2015, the FASB issued a new pronouncement, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in this ASU defer the effective date of ASU 2014-09 for all entities by one year. Public business entities should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. On September 25, 2015, the FASB issued ASU 2015-16 to simplify the accounting for measurement-period adjustments. The ASU, which is part of the FASB's simplification initiative (i.e., the Board's effort to reduce the cost and complexity of certain aspects of U.S. GAAP), was issued in response to stakeholder feedback that restatements of prior periods to reflect adjustments made to provisional amounts recognized in a business combination increase the cost and complexity of financial reporting but do not significantly improve the usefulness of the information. Under the ASU, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU also requires acquirers to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. Under this ASU, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU also requires acquirers to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the ASU is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The ASU must be applied prospectively to adjustments to provisional amounts that occur after the effective date. Early adoption is permitted for financial statements that have not been issued. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02 Leases. The core principle of this ASU will require lessees to present right-of-use assets and lease liabilities on their balance sheets. ASU 2016-02 is effective for annual and interim periods beginning January 1, 2019. Early adoption of this ASU is permitted. Upon adoption of this ASU, the Group is required to recognize and measure leases at the beginning of the earliest period presented in the consolidated financial statements using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that the Company may elect to apply. The Group is currently evaluating and assessing the impact of this ASU will have on the Group's consolidated financial statements.

BUSINESS ACQUISITION

BUSINESS ACQUISITION	12 Months Ended
	Dec. 31, 2015
BUSINESS ACQUISITION
BUSINESS ACQUISITION	4. BUSINESS ACQUISITION On June 5, 2015, the Company entered into an agreement to acquire JMU HK with a consideration of 741,422,780 30,000,000 741,422,780 shares were issued as part of consideration of which 311,842,983 three 10.39 28 three The transaction was considered as a business acquisition. The Company was determined as the accounting acquirer based on the facts and circumstances of the transaction including the Company's payment of cash consideration for the equity interests of JMU and the Company's relative size is larger than that of JMU. Accordingly the purchase method of accounting has been applied. The acquired net assets were recorded at their estimated fair values on the acquisition date. The acquired goodwill is not deductible for tax purposes. The preliminary purchase price for the acquisition was allocated as follows: Amortization Period Net tangible assets $ 28,793,669 Intangible assets: Trade name/domain name 16,228,000 10 Non-compete agreement 10,096,000 4.5 Online platform 1,364,000 5 Customer relationships 27,760,000 5 10 Total 55,448,000 Deferred tax liabilities (13,862,000 ) Goodwill 336,585,270 Total consideration $ 406,964,939 The goodwill is mainly attributable to intangible assets that cannot be recognized separately as identifiable assets under US GAAP, and comprise of (a) the assembled work force and (b) the expected but unidentifiable business growth resulting from the Acquisition. The following unaudited pro forma information summarizes the results of operations for the years ended December 31, 2014 and 2015 of the Group as if the acquisition had occurred on January 1, 2014. The following pro forma financial information is not necessarily indicative of the results that would have occurred had the acquisition been completed at the beginning of the period indicated, nor is it indicative of future operating results: For the year ended December 31, 2014 2015 (unaudited) (unaudited) Pro forma revenues $ 68,298 $ 11,522,525 Pro forma net loss (16,439,806 ) (115,066,695 ) Pro forma net loss per ordinary share-basic (0.02 ) (0.09 ) Pro forma net loss per ordinary share-diluted (0.02 ) (0.09 )

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2015
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS	5. DISCONTINUED OPERATIONS The disposal described in Note 1 represents a strategic shift and has a major effect on the Group's results of operations. The Group Buying Entities is accounted as discontinued operations in the consolidated financial statements for the years ended December 31, 2013, 2014 and 2015. A gain of $ 47,390,421 The financial results of the Group Buying Entities are set out below. The assets, liabilities, revenue and expenses have been reclassified as discontinued operations to retrospectively reflect the changes for the year ended December 31, 2014. December 31, 2014 Carrying amounts of assets disposed Cash $ 1,644,855 Accounts receivable, net 1,225,386 Prepaid expenses and other current assets 7,206,884 Current assets of discontinued operations 10,077,125 Property and equipment, net 2,574,081 Goodwill 7,463,706 Non-current assets of discontinued operations 10,037,787 Total assets of discontinued operations $ 20,114,912 Carrying amounts of liabilities disposed Accounts payable $ 22,679,754 Accrued expense and other current liabilities 21,669,131 Advance from customers 22,703,718 Amounts due to related parties 403,585 Income tax payable 44,100 Current liabilities of discontinued operations 67,500,288 Total liabilities of discontinued operations $ 67,500,288 For the years ended December 31, 2013 2014 2015 Net revenues $ 36,253,309 $ 30,073,452 $ 16,832,352 Cost of revenues (6,583,501 ) (7,040,383 ) (2,927,148 ) Gross profit 29,669,808 23,033,069 13,905,204 Operating expenses (61,668,332 ) (62,378,258 ) (50,212,995 ) Loss from operations (31,998,524 ) (39,345,189 ) (36,307,791 ) Gain from disposal of Group Buying Entities — — 47,390,421 Interest income 43,864 6,699 1,904 Interest expense (136,655 ) (11,798 ) — Other expenses, net (89,354 ) (196,288 ) (8,599 ) Gain from disposal of subsidiary 895 — — (Loss)/Income before income tax (32,179,774 ) (39,546,576 ) 11,075,935 Provision for income tax 80,519 — — (Loss)/Income from discontinuing operations attributable to owners of the Company $ (32,099,255 ) $ (39,546,576 ) $ 11,075,935 Nature of the relationships with related parties: Name Relationship with the Company Beijing Baifen Tonglian Media Technology Co., Ltd. Controlled by Mr. Xu As of December 31, 2014, the following balances were due to the related parties: December 31, 2014 Amount due to Beijing Baifen Tonglian Media Technology Co., Ltd 403,585 (i) $ 403,585 (i) The amounts represents short messaging service (“SMS”) distribution platform fee, which has not been paid to Beijing Baifen Tonglian Media Technology Co., Ltd.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2015
PREPAYMENTS AND OTHER CURRENT ASSETS
PREPAYMENTS AND OTHER CURRENT ASSETS	6. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following: December 31, 2014 December 31, 2015 Receivables from third-party purchasers $ — $ 16,510,091 Amount due from third parties — 4,917,068 Advance to suppliers — 2,475,752 Prepaid rental expenses and other deposits — 865,219 Advance to employees — 245,897 Prepaid professional service fee 227,110 34,002 Other current assets — 233,405 $ 227,110 $ 25,281,434 In connection with the online platform services, receivables from third-party purchasers represented the total amounts paid to third-party sellers on behalf of third-party purchasers through JMU online platform in a period less than one week without any charges.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2015
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	7. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consisted of the following: December 31, Computer and software $ 571,564 Total 571,564 Less: accumulated depreciation (93,489) Property and equipment, net $ 478,075 Depreciation expense for the years ended December 31, 2013, 2014 and 2015 was nil , nil 63,981

ACQUIRED INTANGIBLE ASSETS, NET

ACQUIRED INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2015
ACQUIRED INTANGIBLE ASSETS, NET
ACQUIRED INTANGIBLE ASSETS, NET	8. ACQUIRED INTANGIBLE ASSETS, NET Acquired intangible assets, net, consisted of the following: December 31, Trade name/domain name $ 16,228,000 Non-compete agreement 10,096,000 Online platform 1,364,000 Customer relationship 27,760,000 Total 55,448,000 Less: Accumulated amortization (4,885,055) Acquired intangible assets, net $ 50,562,945 The amortization expense of acquired intangible assets was nil , nil 4,885,055 for the years ended December 31, 2013, 2014 and 2015, respectively. No impairment loss was recognized for the years ended December 31, 2013, 2014 and 2015.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2015
GOODWILL
GOODWILL	9. GOODWILL The changes in the goodwill balance for the years ended December 31 , 2014 and 2015 is as follows: December 31, Gross amount: Beginning balance $ — Addition 336,585,270 Ending balance 336,585,270 Accumulated impairment loss: Beginning balance — Charge for the period (85.934.770 ) Ending balance (85.934.770 Goodwill, net $ 250,650,500 The Group has one 85,934,770

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2015
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following: December 31, Payables to third-party sellers $ 17,163,716 Accrued payroll and welfare 1,219,730 Payable for professional fee 858,577 Payables for rental fee 639,753 Others 88,680 Total accrued expenses and other current liabilities $ 19,970,456 In connection with the online platform services, payable to third-party sellers represented the total amounts received from third-party purchasers on behalf of third-party sellers through JMU online platform in a period less than one week without any charges.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
INCOME TAXES	11. INCOME TAXES Cayman Under the current laws of the Cayman Islands, the Company is not subject to tax on its income or capital gains. Hong Kong No provision for Hong Kong Profits Tax was made for the years ended December 31, 2013, 2014 and 2015 on the basis that JMU did not have any assessable profits arising in or derived from Hong Kong for those years. PRC The enterprise income tax (‘‘EIT'') law applies a uniform 25 No taxable income for both domestic and foreign entities of the Group. Credit for income tax consisted of the following: Year ended December 31, 2015 Income tax benefits: Current income tax expenses $ — Deferred income tax benefits 1,249,696 Total $ 1,249,696 The significant components of the Group's deferred tax assets and liabilities were as follows: December 31, Deferred tax assets Current deferred tax assets $ - Total current deferred tax assets - Non-current Net operating loss carry forwards 1,955,301 Total deferred tax assets 1,955,301 Less: valuation allowance (1,955,301 ) Net deferred tax assets $ — Deferred tax liabilities Non-current Acquired intangible assets $ 12,640,736 Total deferred tax liabilities $ 12,640,736 The Group considers the following factors, among other matters, when determining whether some portion or all of the deferred tax assets will more likely than not be realized: the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carry forward years, the Group's experience with tax attributes expiring unused and tax planning alternatives. The Group's ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carry forward years provided for in the tax law. The Group had incurred net operating losses carry forwards nil 8,064,039 ' nil 1,955,301 Reconciliation between the income taxes benefit computed by applying the PRC tax rate to loss before income taxes and the actual credit for income taxes is as follows: For the year ended December 31, 2015 Net loss before provision for income taxes $ (105,895,819 ) Statutory tax rates in the PRC 25 % Income tax at statutory tax rate (26,473,955 ) Expenses not deductible for tax purposes Goodwill impairment 21,483,693 Entertainment expenses exceeded tax limit 7,687 Other expenses exceeded tax limit 226,428 Effect of income tax rate difference in other jurisdiction 4,050,542 Changes of valuation allowance 1,955,301 Income tax benefits $ 1,249,696 The EIT Law includes a provision specifying that legal entities organized outside the PRC will be considered residents for Chinese income tax purposes if their place of effective management or control is within the PRC. If legal entities organized outside the PRC were considered residents for Chinese income tax purpose, they would become subject to the EIT Law on their worldwide income. This would cause any income legal entities organized outside the PRC earned to be subject to the PRC's 25% EIT. The Implementation Rules to EIT Law provide that non-resident legal entities will be considered as PRC residents if substantial and overall management and control over the manufacturing and business operations, personnel, accounting, properties, etc. reside within the PRC. Pursuant to the additional guidance released by the Chinese government on April 22, 2009 and issued bulletin on August 3, 2011 which provide more guidance on the implementation, management does not believe that the legal entities organized outside the PRC should be characterized as the PRC tax residents for EIT Law purposes. Under the EIT Law and its implementation rules which became effective on January 1, 2008, dividends generated after January 1, 2008 and payable by a foreign-invested enterprise in the PRC to its foreign investors who are non-resident enterprises are subject to a 10% withholding tax, unless any such foreign investor's jurisdiction of incorporation has a tax treaty with the PRC that provides for a different withholding arrangement. The Cayman Islands, where the Company are incorporated, does not have a tax treaty with the PRC. There were no aggregate undistributed earnings of the Company's subsidiaries, VIE and VIE's subsidiaries located in the PRC available for dividend distribution. Therefore, no deferred tax liability has been accrued for the Chinese dividend withholding taxes that might be payable upon the distribution of aggregate undistributed earnings as of December 31, 2015. The impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes. The Group has concluded that there are no significant uncertain tax positions requiring recognition in the consolidated financial statements for the years ended December 31, 2013, 2014 and 2015. The Group did not incur any interest and penalties related to potential underpaid income tax expenses and also does not anticipate any significant increases or decreases in unrecognized tax benefits within 12 months from December 31, 2015. The Group has no material unrecognized tax benefits which would favorably affect the effective income tax rate in future years. Since January 1, 2008, the relevant tax authorities of the Group's subsidiaries, VIE and VIE's subsidiaries located in the PRC have not conducted a tax examination. In accordance with relevant PRC tax administration laws, tax years from 2008 to 2015 of the Group's PRC subsidiaries, VIE and VIE's subsidiaries, remain subject to tax audits as of December 31, 2015, at the tax authority's discretion.

ORDINARY SHARES

ORDINARY SHARES	12 Months Ended
	Dec. 31, 2015
ORDINARY SHARES
ORDINARY SHARES	12 . ORDINARY SHARES On April 8, 2015, the Company completed its IPO on NASDAQ by offering 4,000,000 72 10 220,000 3.96 10 37,294,600 3,000,000 Upon the completion of the IPO, all of the Company's then outstanding Series A-1, Series A-2 and Series B preferred shares were automatically converted into 12,202,988 122,029,877 30,507,471 69.4 124,835,802 On June 8, 2015, the Company issued 741,422,780 72,000,000 0.5556 40,000,000 15,000,000 27,000,000 27,000,000 On September 27, 2015, the Company issued and transferred 38,363,112 2,131,284 6,866,280 38,363,112 31,496,832

CONVERITBLE REDEEMABLE PREFERRE

CONVERITBLE REDEEMABLE PREFERRED SHARES	12 Months Ended
	Dec. 31, 2014
CONVERITBLE REDEEMABLE PREFERRED SHARES
CONVERITBLE REDEEMABLE PREFERRED SHARES	13 . CONVERTIBLE REDEEMABLE PREFERRED SHARES On April 3, 2011, Wowo Group Limited ("Wowo BVI") 5,489,604 0.9108 5,000,000 18,072 On May 25, June 8, and July 5, 2011, Wowo BVI issued 30,803,678 2,053,580 18,482,206 0.9739 30,000,000 2,000,000 18,000,000 192,149 On February 29, 2012, the Company issued an aggregate of 30,507,471 0.4097 12,500,000 31,153 6,713,384 70,690,413 0.4097 43,234,050 Each Series A and Series B convertible preferred share had been automatically converted into one The rights, preferences, privileges and restriction granted to and imposed on the Series A-1, A-2 (collectively referred to as ‘‘Series A Preferred Shares'') and Series B Preferred Shares (collectively, "Preferred Shares")were as follows: Voting rights Each Preferred Share carried a According to the Third Amended Memorandum and Article of Association after above issuance of Series A-1, Series A-2 and Series B Preferred Shares, the number of the Board of directors of the Company was four one three Dividends No dividends shall be declared or paid on the ordinary shares or any future series of Preferred Shares, unless and until a dividend in like amount is declared and paid on each outstanding Preferred Share on an as-if converted basis. Each holder of Series B Preferred Shares shall be entitled to receive, on annual basis, preferential, non-cumulative dividends at the rate equal to the greater of (i) 8 After the full preferential dividends for Series B Preferred Shares had been paid on all outstanding Series B Preferred Shares, each holder of Series A-2 Preferred Shares shall be entitled to receive, on an annual basis, preferential, non-cumulative dividends at the rate equal to the greater of (i) 8 After the full preferential dividends for Series B and Series A-2 Preferred Shares had been paid on all outstanding Series B and Series A-2 Preferred Shares, each holder of Series A-1 Preferred Shares shall be entitled to receive, on an annual basis, preferential, non-cumulative dividends at the rate equal to the greater of (i) 8 In addition to any dividend pursuant to above, the holders of Preferred Shares shall be entitled to receive on a pari passu basis, when as and if declared at the sole discretion of the Board, but only out of funds that are legally available there for, cash dividends at the rate or in the amount as the Board considers appropriate. Liquidation preference In the event of any liquidation, dissolution or winding up of the Company, each holder of Series B Preferred Shares shall be entitled to receive, prior to any distribution to the holders of Series A Preferred Shares, Ordinary Shares or any other class or series of shares then outstanding, an amount per Series B Preferred Share equal to 100 After the full Series B Preference Amount had been paid on all outstanding Series B Preferred Shares, the each holder of Series A-2 Preferred Shares shall be entitled to receive, prior to any distribution to the holders of Ordinary Shares or any other class or series of shares then outstanding, an amount per Series A-2 Preferred Share equal to 100 After the full Series A-2 Preference Amount had been paid on all outstanding Series A-2 Preferred Shares, the each holder of Series A-1 Preferred Shares shall be entitled to receive, prior to any distribution to the holders of Ordinary Shares or any other class or series of shares then outstanding, an amount per Series A-1 Preferred Share equal to 100 After the full Series B and Series A Preference Amount had been paid, any remaining funds or assets of the Company legally available for distribution to shareholders shall be distributed pro rata among the holders of Preferred Shares (on an as-converted basis) and the holders of the Ordinary Shares. In the event the Company proposed to distribute assets other than cash in connection with any liquidation, dissolution or winding up of the Company, the value of the assets to be distributed to the holders of Preferred Shares and Ordinary Shares shall be determined by the Board. Conversion Optional conversion Each holder of Preferred Shares shall have the right to convert all or any portion of the Preferred Shares into Ordinary Shares at any time. The conversion rate for the Series B Preferred Shares and Series A Preferred Shares shall be determined by dividing the Series B and Series A Issue Price for each of the Series B Preferred Shares and Series A Preferred Shares by its conversion price, respectively, provided that in the event of any share splits, share combinations, share dividends, recapitalizations and similar events, the initial Series B and Series A Conversion Price shall be adjusted accordingly, respectively. Automatic conversion The Preferred Shares would automatically be converted into Ordinary Shares, at its then respective Conversion Prices, upon a Qualified IPO, which is defined as an initial public offering of securities of the Company on a recognized regional or national exchange or quotation system in the United States, Hong Kong, the PRC or any other jurisdiction approved by the investors, and the aggregate proceeds to the Company in such initial public offering shall be not less than $ 100,000,000 No adjustment in the Series B Conversion Price shall be made in respect of the issuance of additional ordinary shares unless the consideration per share for an additional ordinary share issued or deemed to be issued by the Company is less than the Series B Conversion Price. If the Company issues any additional ordinary shares and 0.85 0.85 No adjustment in the Series A Preferred Shares Conversion Price shall be made in respect of the issuance of additional ordinary shares unless the consideration per share for an additional ordinary share issued or deemed to be issued by the Company is less than the Series A Conversion Price. If the Company issues any additional ordinary shares and 0.85 Series A Conversion Price, the Series A Conversion Price shall be reduced to a price (to the nearest one thousandth (1/1000) of a cent) equal to 0.85 The conversion price will be adjusted for share dividends, subdivisions, combinations or consolidations of ordinary shares, other distributions, reclassification, exchange and substitution. The Company will protect the Conversion Rights of the holders of the Preferred Shares against impairment, and not amend its Memorandum and Articles of Association or through any reorganization, transfer of assets, consolidation, merger, dissolution, issuance or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed by the Company. The Group had determined that there was embedded beneficial conversion feature of $43,234,050 attributable to the Series A-1 and Series A-2 Preferred Shares because the adjusted conversion price of Series A-1 and Series A-2 Preferred Shares is lower than the fair value of the Group's ordinary share as of respective issuance dates and there was no embedded beneficial conversion feature attributable to the Series B Preferred Shares because the conversion price of the Series B Preferred Shares is higher than the fair value of the Group's ordinary share as of the issuance date. The initial conversion price of Series B and Series A Preferred Shares shall be their Issue Price, therefore, the initial conversion rate was one one one one The Group assessed $ 37,641,848 40,814,509 2,365,351 as accretion for Series A-1 Preferred Shares, Series A-2 Preferred Shares and Series B Preferred Shares for the years ended December 31, 2013, 2014 and 2015, respectively. The changes in Preferred Shares balance for the years ended December 31, 2013, 2014 and 2015 are as follows: Series A-1 Preferred Series A-2 Preferred Shares Series B Preferred Shares Total Balance as of January 1, 2013 $ 4,111,914 $ 28,072,921 $ 14,012,736 $ 46,197,571 Accretion for the Preferred Shares 1,199,007 34,336,421 2,106,420 37,641,848 Balance as of December 31, 2013 $ 5,310,921 $ 62,409,342 $ 16,119,156 $ 83,839,419 Accretion for the Preferred Shares 1,445,125 36,947,001 2,422,383 40,814,509 Balance as of December 31, 2014 $ 6,756,046 $ 99,356,343 $ 18,541,539 $ 124,653,928 Accretion for the Preferred Shares 442,409 1,202,748 720,194 2,365,351 Conversion to Ordinary Shares (7,198,455 (100,559,091 (19,261,733 (127,019,279 Balance as of December 31, 2015 $ - $ - $ - $ - On April 8, 2015, all the issued and outstanding Series A-1, Series A-2 and Series B preferred shares were automatically converted into 12,202,988 122,029,877 30,507,471

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	12 Months Ended
	Dec. 31, 2015
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT	14 . FAIR VALUE MEASUREMENT Measured at fair value on a recurring basis The Group had no financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2014 and 2015. Measured at fair value on a non-recurring basis The Group measured share options granted to employees and directors and executives and restricted share units using various valuation methods. These share options are considered Level 3 fair value measurement because the Company used unobservable inputs, reflecting the Company's assessment of the assumptions that market participants would use in valuing these share options. The Group measures the acquired assets and liabilities at fair value on a nonrecurring basis as result of the business acquisition as set forth in Note 4. The fair value was determined using models with significant unobservable inputs (Level 3 inputs), primarily the management projection on the discounted future cash flow and the discount rate. The Group measures goodwill at fair value on a nonrecurring basis when it is annually evaluated or whenever events or changes in circumstances indicate that carrying amount of a reporting unit exceeds its fair value. The fair value was determined using models with significant unobservable inputs (Level 3 inputs) which primarily included management projections on the discounted future cash flow analysis including the discount rate using the weighted average cost of capital of 17 85,934,770

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	15 . SHARE-BASED COMPENSATION 2011 Share Incentive Plan On February 1, 2011, the Board of Directors approved the Company 2011 Share Incentive Plan (‘‘2011 Plan''). The 2011 Plan provides for the grant of options, restricted shares, and other share-based awards. On March 15, 2013, under the 2011 Plan, the Company granted share option to the employees and managements to purchase 1,128,590 100,000 share option with exercise price of $ 0.2 0.2 per share option, respectively. On April 18, 2014, under the 2011 Plan, the Company granted share option to the employees and managements to purchase 9,341,500 2,104,000 options with exercise price of $ 0.01 0.01 per share option The Group recognized compensation cost on the share options to employees on a straight-line basis over the requisite service period. The options granted during 2012 and 2013 vest ratably over 48 5 On July 27, 2015, the Board of Directors approved to grant 28,841,700 Restricted Share Units ("RSUs") awards pursuant to the 2011 Plan. Each RSU represents the contingent right of the participant to receive an ordinary share. Each RSU is an agreement to issue ordinary share at the time the award vests with zero 50 50 2 The fair value of each RSU is measured on the grant date based on the market closing price of the ordinary share on the grant date. Outstanding RSUs Weighted average Number of grant date RSUs fair value Outstanding as of January 1, 2015 - $ - Granted 28,841,700 0.265 Forfeited and expired (201,800 ) 0.265 Vested 28,639,900 0.265 Outstanding as of December 31, 2015 28,639,900 $ 0.265 Exercisable as of December 31, 2015 28,639,900 $ 0.265 The following summary of share option activities under the 2011 Plan as of December 31, 2015, reflected all modifications is presented below: Options Number of share options Weighted average exercise price Weighted average grant date fair value Weighted average remaining contractual life Aggregate intrinsic value Outstanding as of January 1, 2015 39,249,022 $ 0.07 $ 0.11 2.51 $ 3,512,311 Granted — $ — $ — — — Forfeited and expired (1,079,202 ) $ 0.02 $ 0.08 — — Exercised (6,866,280 ) $ 0.02 $ 0.08 — — Outstanding as of December 31, 2015 31,303,540 $ 0.08 $ 0.26 1.34 $ 1,734,975 Exercisable as of December 31, 2015 31,303,540 $ 0.08 $ 0.26 1.34 $ 1,734,975 No $ 909,904 $ 1,571,935 7,176,600 2013, 2014 and 2015, respectively. On September 1, 2015, the Board of Directors approved that all 3,312,618 7,503,976 As all batches of options and RSUs were vested as of September 1, 2015, the actual forfeiture rates were trued up, which resulted a reversal of $ 327,376 The fair value of the options granted/modified was estimated on the date of grant/modification with the assistance of an independent third-party appraiser, and was determined using binomial model with the following assumptions March 15, 2013 April 18, September 1, Expected volatility (1) 65 58 60.3 65.1 Risk-free interest rate (2) 0.90 1.8 0.47 0.88 Expected dividend yield (3) nil nil nil Exercise price (4) $ 0.2 $ 0.01 $ 0.01 0.20 Fair value of the underlying ordinary shares (5) $ $ 0.0611 $ $ 0.0590 $ 0.38 (1) Volatility The volatility of the underlying ordinary shares during the life of the options was estimated based on average historical volatility of comparable companies for the period before the valuation date with lengths equal to the life of the options. (2) Risk-free rate Risk free rate is estimated based on yield to maturity of PRC international government bonds with maturity term close to the life of the options. (3) Dividend yield The dividend yield was estimated by the Group based on its expected dividend policy over the life of the options. (4) Exercise price The exercise price of the options was determined by the Group's Board of Directors. (5) Fair value of underlying ordinary shares The estimated fair value of the ordinary shares underlying the options as of the respective valuation dates was determined based on a contemporaneous valuation. When estimating the fair value of the ordinary shares on the valuation dates, management has considered a number of factors, including the result of a third-party appraisal and equity transactions of the Group, while taking into account standard valuation methods and the achievement of certain events. The fair value of the ordinary shares in connection with the option grants on the valuation dates was determined with the assistance of an independent third-party appraiser. After the Company listed on NASDAQ in April 2015, the closing market price of the ordinary shares of the Company as of the grant/modification date was used as the fair value of the ordinary shares on that date. Ordinary shares to directors and executives On June 29, 2014, Mr. Xu 30,372,540 0.138 4,190,449

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2015
NET LOSS PER SHARE [Abstract]
NET LOSS PER SHARE	16 . NET LOSS PER SHARE The calculation of the net loss per share is as follows: For the years ended December 31, 2013 2014 2015 Numerator: Net loss attributable to Wowo Limited $ (32,172,344 ) $ (43,856,347 ) $ (93,570,188 ) -Continuing operations (73,089 ) (4,323,249 ) (104,646,123 ) -Discontinued operations (32,099,255 ) (39,533,098 ) 11,075,935 Accretion for Series A-1 Preferred Shares (1,199,007 ) (1,445,125 ) (442,409 ) Accretion for Series A-2 Preferred Shares (34,336,421 ) (36,947,001 ) (1,202,748 ) Accretion for Series B Preferred Shares (2,106,420 ) (2,422,383 ) (720,194 ) Net loss attributable to ordinary shareholders for computing basic net loss per ordinary shares (69,814,192 ) (84,670,856 ) (95,935,539 ) -Continuing operations (158,604 ) (8,346,641 ) (104,646,123 ) -Discontinued operations (69,655,588 ) (76,324,215 ) 8,710,584 Accretion for Series A-1 Preferred Shares 1,199,007 1,445,125 442,409 Net income attributable to Series A-1 P referred Shareholders for computing basic net income per Series A-1 Preferred Shares 1,199,007 1,445,125 442,409 Accretion for Series A-2 Preferred Shares 34,336,421 36,947,001 1,202,748 Net income attributable to Series A-2 P referred Shareholders for computing basic net income per Series A-2 Preferred Shares 34,336,421 36,947,001 1,202,748 Accretion for Series B Preferred Shares 2,106,420 2,422,383 720,194 Net income attributable to Series B P referred Shareholders for computing basic net income per Series B Preferred Shares 2,106,420 2,422,383 720,194 Denominator: Weighted average ordinary shares outstanding used in computing basic net loss per ordinary shares 303,886,640 303,886,640 1,001,754,524 Weighted average ordinary shares outstanding used in computing diluted net loss per ordinary shares 303,886,640 303,886,640 1,001,754,524 Weighted average shares outstanding used in computing basic net income per Series A-1 Preferred Shares 12,202,988 12,202,988 3,242,986 Weighted average shares outstanding used in computing basic net income per Series A-2 Preferred Shares 122,029,877 122,029,877 32,429,858 Weighted average shares outstanding used in computing basic net income per Series B Preferred Shares 30,507,471 30,507,471 8,107,465 Net loss per ordinary shares Basic $ (0.23 ) $ (0.28 ) $ (0.09 ) Diluted $ (0.23 ) $ (0.28 ) $ (0.09 ) Net loss per ordinary share from continuing operations Basic (0.00 ) (0.03 ) (0.10 ) Diluted (0.00 ) (0.03 ) (0.10 ) Net (loss)/income per share from discontinued operations Basic (0.23 ) (0.25 ) 0.01 Diluted (0.23 ) (0.25 ) 0.01 Net income per Series A-1 P referred S hares—Basic $ 0.10 $ 0.12 $ 0.14 Net income per Series A-2 P referred S hares—Basic $ 0.28 $ 0.30 $ 0.04 Net income per Series B P referred S hares—Basic $ 0.07 $ 0.08 $ 0.09 Weighted average shares used in calculating net loss per ordinary shares Basic Continuing operations 303,886,640 303,886,640 1,001,754,524 Discontinued operations 303,886,640 303,886,640 1,001,754,524 Diluted Continuing operations 303,886,640 303,886,640 1,001,754,524 Discontinued operations 303,886,640 303,886,640 1,043,473,265 Weighted average shares used in calculating net loss per Series A-1 preferred shares 12,202,988 12,202,988 3,242,986 Series A-2 preferred shares 122,029,877 122,029,877 32,429,858 Series B preferred shares 30,507,471 30,507,471 8,107,465 Series A-1, Series A-2 and Series B Preferred Shares were excluded from the computation of diluted net loss per ordinary share for the years ended December 31, 2013, 2014 and 2015 because their effects were anti-dilutive. For the years ended December 31, 2013, 2014 and 2015, 34,681,354 , 39,249,022 and 59,943,440 ordinary shares resulting from the assumed exercise of share options were excluded as their effect was anti-dilutive for the continuing operations of the Group, respectively. For the years ended December 31, 2013, 2014 and 2015, 34,681,354 39,249,022 18,224,699

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
RELATED PARTY BALANCES AND TRANSACTIONS [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	17 . RELATED PARTY BALANCES AND TRANSACTIONS Nature of the relationships with related parties: Name Relationship with the Company Mr. Xu Shareholder Dallsfield Ltd. Controlled by Mr.Xu Rizhao Yinxingshu Equity Investment Fund, L.P Controlled by Mr. Xu Beijing Shiletao Ecommerce Co., Ltd. Controlled by Mr. Xu Noodles Dao (HK) Co., Ltd. Controlled by Xiaoxia Zhu Hong Kong Sunward Fishery Restaurant Management Co., Ltd. Controlled by Xiaoxia Zhu Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Nanjing Yongji Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Ningbo Jingzhou Sunward Logistics Co., Ltd. Controlled by Xiaoxia Zhu Zhejiang Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Shanghai MIN Group Co., Ltd. Controlled by Huimin Wang Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. Controlled by Huimin Wang WM Ming Hotel Controlled by Huimin Wang Shanghai MIN Hongshi Trading Co., Ltd. Controlled by Huimin Wang (a) As of December 31, 2015 the following balances were due from/to the related parties: December 31, 2015 Amount due from Noodles Dao (HK) Co., Ltd. $ 74,187 (i) Amount due from Hong Kong Sunward Fishery Restaurant Management Co., Ltd. 70,962 (i) Amount due from Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd. 29,469 (i) Amount due from Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. 29,831 (i) Amount due from Nanjing Yongji Sunward Fishery Restaurant Co., Ltd. 13,015 (i) Amount due from Ningbo Jingzhou Sunward Logistics Co., Ltd. 149,033 (i) Amount due from Zhejiang Sunward Fishery Restaurant Co., Ltd. 128,845 (i) Amount due from Shanghai MIN Group Co., Ltd. 48,643 (i) Amount due from Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. 260,623 (i) Amount due from WM Ming Hotel 1,815 (i) Total $ 806,423 (i) The amounts represents the receivables from related parties who purchase product on JMU online platform. December 31, December 3 1 , 2014 2015 Amount due to Dallsfield Ltd. 250,000 (ii) - Amount due to Rizhao Yinxingshu Equity Investment Fund, L.P 32,717,713 (ii) - Amount due to Beijing Shiletao Ecommerce Co., Ltd. 969,927 (ii) - Amount due to Mr. Xu 28,027,637 (ii) - Amount due to Shanghai MIN Hongshi Trading Co., Ltd. - 319,767 (iii) Total $ 61,965,277 $ 319,767 (ii) The amounts represents the funds provided by Mr. Xu, to support the working capital for the Group's daily operations, which was included in the indebtedness from Mr. Xu and had been converted into ordinary shares immediately after the completion of the IPO. (iii) The amounts represents the payables to related parties who sell products on JMU online platform. (b) Details of related party transactions occurred for the years ended December 31, 2015 were as follows: Rental expense to: For the year ended December 31,2015 Amount due to Shanghai MIN Group Co., Ltd. $ 335,249 Total $ 335,249 Revenue from: For the year ended December 31, 2015 Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. $ 393,147 Ningbo Jingzhou Sunward Logistics Co., Ltd. 58,560 Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd. 38,179 Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. 32,726 Nanjing Yongji Sunward Fishery Restaurant Co., Ltd. 17,573 WM Ming Hotel 1,573 Total $ 541,758

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	18 . COMMITMENTS AND CONTINGENCIES Operating lease The Group leases certain office premises under non-cancellable leases. Rental expenses under operating leases for the years ended December 31, 2013, 2014 and 2015 were nil nil 985,214 The future aggregate minimum lease payments under non-cancelable operating lease agreements were as follows: Years ending December 31: 2016 $ 1,483,747 2017 1,432,141 2018 1,436,065 2019 1,432,141 2020 1,432,141 2021 and after 13,689,704 Total $ 20,905,939 Withholding tax obligation Pursuant to PRC individual income tax laws, when a corporation purchases equity interest from individuals, the individuals are obligated to pay individual income tax based on 20

MAINLAND CHINA CONTRIBUTION PLA

MAINLAND CHINA CONTRIBUTION PLAN	12 Months Ended
	Dec. 31, 2015
MAINLAND CHINA CONTRIBUTION PLAN [Abstract]
MAINLAND CHINA CONTRIBUTION PLAN	19 . MAINLAND CHINA CONTRIBUTION PLAN Full time PRC employees of the Group are eligible to participate in a government-mandated multi- employer defined contribution plan under which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to these employees. The PRC labor regulations require the Group to accrue for these benefits based on a percentage of each employee's income. Total provisions for employee benefits were nil nil 902,418 2013, 2014 and 2015, respectively, reported as a component of operating expenses when incurred.

STATUTORY RESERVES AND RESTRICT

STATUTORY RESERVES AND RESTRICTED NET ASSETS	12 Months Ended
	Dec. 31, 2015
STATUTORY RESERVES AND RESTRICTED NET ASSETS [Abstract]
STATUTORY RESERVES AND RESTRICTED NET ASSETS	20. STATUTORY RESERVES AND RESTRICTED NET ASSETS In accordance with the Regulations on Enterprises with Foreign Investment of China and their articles of association, the Group's subsidiaries, VIE and VIE ' subsidiaries located in the PRC, being foreign invested enterprises established in the PRC, are required to provide for certain statutory reserves. These statutory reserve funds include one or more of the following: (i) a general reserve, (ii) an enterprise expansion fund or discretionary reserve fund, and (iii) a staff bonus and welfare fund. Subject to certain cumulative limits, the general reserve fund requires a minimum annual appropriation of 10% of after-tax profit (as determined under accounting principles generally accepted in China at each year-end); the other fund appropriations are at the subsidiaries' or the affiliated PRC entities' discretion. These statutory reserve funds can only be used for specific purposes of enterprise expansion, staff bonus and welfare, and are not distributable as cash dividends except in the event of liquidation of our subsidiaries, our affiliated PRC entities and their respective subsidiaries. The Group's subsidiaries, VIE and VIE ' subsidiaries are required to allocate at least 10 50 Appropriations to the enterprise expansion reserve and the staff welfare and bonus reserve are to be made at the discretion of the Board of Directors of each of the Group's subsidiaries. The appropriation to these reserves by the Group's PRC subsidiaries and VIE were all nil 2013, 2014 and 2015. As a result of these PRC laws and regulations and the requirement that distributions by the PRC entities can only be paid out of distributable profits computed in accordance with the PRC GAAP, the PRC entities are restricted from transferring a portion of their net assets to the Group. Amounts restricted include paid-in capital and the statutory reserves of the Group's PRC subsidiaries and VIE entity. The aggregate amounts of capital and statutory reserves restricted which represented the amount of net assets of the relevant subsidiaries and VIE in the Group not available for distribution were $ 26,017,742 21,598,935 4,324,871 1,599,100

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2015
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	21 . SEGMENT INFORMATION The Group is mainly engaged in operating a B2B online e-commerce platform that provides integrated services to suppliers and consumers in the catering industry throughout the PRC. The Group's chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. The Group's revenue and net loss are substantially derived from online direct sales. The Group does not have discrete financial information of costs and expenses in its internal reporting, and reports costs and expenses by nature as a whole. one The table below is only presented at the revenue level with no December 31, 2015 Online direct sales $ 11,477,552 Online platform services — Total $ 11,477,552

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	22. SUBSEQUENT EVENTS In January 2016, the Company invested in Shanghai Cold Chain Link Global International Logistic Co., Ltd. (“CCLG”), a company established in the PRC that is mainly engaged in cold chain logistics services, with total consideration payable of $ 3.1 10

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (policies)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation	Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (‘‘US GAAP'').
Basis of consolidation	Basis of consolidation The consolidated financial statements of the Group include the financial statements of the Company, and its consolidated subsidiaries, VIE and VIE's subsidiaries which are accounted for under the voting interest model. All intercompany transactions and balances have been eliminated upon consolidation.
Business combinations	Business combinations Business combinations are recorded using the acquisition method of accounting. The assets acquired, the liabilities assumed, and any noncontrolling interest of the acquiree at the acquisition date, if any, are measured at their fair values as of that date. Goodwill is recognized and measured as the excess of the total consideration transferred plus the fair value of any noncontrolling interests of the acquiree, if any, at the acquisition date over the fair values of the identifiable net assets acquired. Cash is the common form of the consideration paid for acquisitions. Consideration transferred in a business acquisition is measured at the fair value as at the date of acquisition.
Discontinued operations	Discontinued operations A disposal of a component of an entity or a group of components of an entity shall be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations. Classification as a discontinued operation occurs upon disposal or when the operation meets the criteria to be classified as held for sale, if earlier. Where an operation is classified as discontinued, a single amount is presented on the face of the consolidated statements of operations. The amount of total current assets, total non-current assets, total current liabilities and total non-current liabilities are presented separately on the consolidated balance sheets.
Revenue recognition	Revenue recognition The Group recognizes revenue from the sales of rice, flavor, bean oil, seafood, wine and some other type of generic food and beverage products through its online platform ccjoin.com The Group utilizes delivery service providers to dispatch goods to its customers directly from its own warehouses. The Group recognizes revenue when the customers confirm the acceptance of the goods online once they receive the delivered goods. If the customers do not confirm the receipt of goods online timely, the online system will confirm automatically after the seven days from the delivery date. The sales returns are considered and estimated when the revenue recognized, but the historical returns on sales on ccjoin.com are inconsequential. Revenue is recorded net of surcharges and value-added tax ("VAT") and related surcharges. The Group primarily generates revenue from online direct sales and online platform services.. Online direct sales The Group primarily sells rice, flavor, bean oil, seafood, wine and some other type of generic food and beverage products through online direct sales. The Group recorded revenue from online direct sales on a gross basis because the Group has the following indicators for gross reporting: it is the primary obligor of the sales arrangements, is subject to inventory risks of physical loss, has latitude in establishing prices, has discretion in suppliers' selection and assumes credit risks on receivables from customers. The Group also retains some of general inventory risks despite its arrangements to return goods to some vendors. Online platform services The Group also provides the online platform services to third-party sellers and purchasers for their transactions. The Group records the related revenue on a net basis, because the Group generally is not the primary obligor, does not bear the inventory risk, does not have the ability to establish the price and control the related shipping services when the online platform is utilized by third-party sellers and purchasers. For the year ended December 31, 2015, the Group did not charge any services fees to the third-party sellers and purchasers.
Value-added tax	Value-added tax Value added tax ("VAT") on sales is calculated at 17 13
Cost of revenue	Cost of revenue Costs of revenues primarily consist of purchased cost of the products sold related to online direct sales, payroll of the operating personnel, website hosting cost, processing fees paid to third-party payment platform, logistic fees paid to the third-party courier companies and amortization of acquired trade name/domain name.
Selling and marketing expenses	Selling and marketing expenses Selling and marketing expenses consist primarily of advertising and market promotion expenses, and other overhead expenses incurred by the Group's sales and marketing personnel. Advertising expenses are expensed as incurred.
Use of estimates	Use of estimates The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Significant accounting estimates reflected in the Group's consolidated financial statements include useful lives and impairment for property and equipment and acquired intangible assets, impairment of goodwill, valuation allowance for deferred tax assets, return allowance, fair value of ordinary shares, share-based compensation and purchase price allocation. Actual results could differ from those estimates.
Cash	Cash Cash consist of cash on hand and bank deposits, which are unrestricted as to withdrawal and use, and have original maturities of three months or less when purchased.
Accounts receivable	Accounts receivable Accounts receivable represents those receivables derived in the ordinary course of business, net of allowance for doubtful accounts.
Allowance for doubtful accounts	Allowance for doubtful accounts The Group maintains an allowance for doubtful accounts for estimated losses on uncollected accounts receivable. Management considers the following factors when determining the collectability of specific accounts: creditworthiness of customers, aging of the receivables, past transaction history with customers and their current condition, changes in customer payment terms, specific facts and circumstances, and the overall economic climate in the industries the Group serves.
Inventories	Inventories Inventory is stated at the lower of cost or market. Cost of inventory is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventory to the estimated market value for slow-moving merchandise and damaged goods. The amount of written-down depends upon factors such as whether the goods are returnable to vendors, historical and forecasted consumer demand, market condition and the promotional environment. Written-down amounts are recorded in cost of goods sold in the consolidated statements of income (loss) and comprehensive loss, which were nil for the years ended December 31, 2013, 2014 and 2015.
Property and equipment, net	Property and equipment, net Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives: Computer and software 3 10
Acquired intangible assets	Acquired intangible assets Acquired intangible assets with finite lives are carried at cost less accumulated amortization and impairment. Amortization of customer relationship is calculated using the estimated attrition pattern. Amortization of other finite lived intangible assets is calculated on a straight-line basis over the shorter of the contractual terms or the expected useful lives of the acquired assets. The amortization period by major intangible asset classes is as follows: Trade name/domain name 10 Non-compete agreement 4.5 Online platform 5 Customer relationship 5 10
Impairment of intangible assets with finite life	Impairment of intangible assets with finite life The Group evaluates the recoverability of its intangible assets with finite lives, whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the intangible assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the excess of carrying amount over the fair value of the assets. Considering that the Group has recurring operating losses, the Group has determined to perform the annual impairment tests on December 31 of each year. As a result of the annual impairment test, no impairment loss was recognized for the years ended December 31, 2013, 2014 and 2015.
Impairment of goodwill	Impairment of goodwill The Group annually, or more frequently if the Group believes indicators of impairment exist, reviews the carrying value of goodwill to determine whether impairment may exist. Specifically, goodwill impairment is determined using a two-step process. The first step compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit's goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. Estimating fair value is performed by utilizing various valuation techniques, with the primary technique being a discounted cash flow. The Group has determined to perform the annual impairment tests on December 31 of each year. Prior to the acquisition of JMU, goodwill was attributable to the Group Buying business which is classified as discontinued operations in the year ended December 31, 2015. No goodwill impairment loss was recognized for this business for the years ended December 31, 2013 and 2014. The goodwill as of December 31, 2015 was attributable solely to the JMU business on which an impairment loss of $ 85,934,770
Operating leases	Operating leases Leases where substantially all the rewards and risks of the ownership of the assets remain with the leasing companies are accounted for as operating leases. Payments made for the operating leases are charged to the consolidated statements of operations on a straight-line basis over the lease term and have been included in the operating expenses in the consolidated statements of operations.
Income taxes	Income taxes Current income taxes are provided in accordance with the laws and regulations applicable to the Company as enacted by the relevant tax authorities. Deferred income taxes are recognized for temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Net operating loss carry forwards and credits are applied using enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities. The impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.
Foreign currency translation	Foreign currency translation The functional and reporting currency of the Company is the United States dollar (“U.S. dollars”). The functional currency of the Company's HK subsidiary JMU is Hong Kong dollars (“HK dollars”). The financial records of the Group's subsidiaries, VIE and VIE's subsidiaries located in the PRC are maintained in their local currencies, the Renminbi (“RMB”), respectively, which are also the functional currencies of these entities. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling on the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statements of operations. The Company's entities with functional currency of RMB and HK dollars translate their operating results and financial position into the U.S. dollars, the Group's reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive loss.
Share-based payments	Share-based payments Share-based payment awards with employees are measured based on the grant date fair value of the equity instrument issued, and recognized as compensation costs net of an estimated forfeiture rate using the straight-line method over the requisite service period, which is generally the vesting period of the options, with a corresponding impact reflected in additional paid-in capital. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or is expected to differ, from such estimate. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of share-based compensation expenses to be recognized in future years.
Comprehensive loss	Comprehensive loss Comprehensive loss includes net loss and foreign currency translation adjustments and is presented net of tax, the tax effect is nil for the years ended December 31, 2013, 2014 and 2015.
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash. The Group places its cash and cash equivalents with financial institutions with high-credit ratings and quality Customers accounting for 10% or more of total revenue are: For the year ended December 31, Customer 2015 A 28.4 % Customers accounting for 10% or more of accounts receivable are: As of December 31, Customer 2015 A 99.9 %
Fair value	Fair value Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows: ¨ Level 1—inputs are based upon quoted prices for instruments traded in active markets. ¨ Level 2—inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based calculation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ¨ Level 3—inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, cash flow models, and similar techniques.
Fair value of financial instruments	Fair value of financial instruments Financial instruments include cash and cash equivalents, amounts due from/to related parties, accounts receivable and accounts payable. The carrying values of cash, amounts due from/to related parties, accounts receivable and accounts payable approximate their fair values reported in the consolidated balance sheets due to the short-term maturities. Financial assets and liabilities measured at fair value on a non-recurring basis include acquired assets and liabilities and goodwill based on Level 3 inputs in connection with business acquisition set out in Note 4.
Net loss per share	Net loss per share Basic loss per ordinary share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. The Group's convertible redeemable participating preferred shares are participating securities as they participate in undistributed earnings on an as-if-converted basis. Accordingly, the Group uses the two-class method whereby undistributed net income is allocated on a pro rata basis to the ordinary shares and convertible redeemable participating preferred shares to the extent that each class may share in income for the period; whereas the undistributed net loss for the period is allocated to ordinary shares only because the convertible redeemable participating preferred shares are not contractually obligated to share the loss. Diluted loss per ordinary share reflects the potential dilution that could occur if securities were exercised or converted into ordinary shares. The Group had convertible redeemable participating preferred shares, stock options and restricted share units, which could potentially dilute basic loss per share in the future. To calculate the number of shares for diluted loss per ordinary share, the effect of the convertible redeemable participating preferred shares is computed using the as-if-converted method; the effect of the stock options and restricted share units is computed using the treasury stock method. Potential ordinary shares in the diluted net loss per share computation are excluded in periods of losses from continuing operations, as their effect would be anti-dilutive.
Recent accounting pronouncements adopted	Recent accounting pronouncements adopted In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updates ("ASU") 2014-08 which amends to change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in U.S. GAAP. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization's operations and financial results. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization's results from continuing operations. The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. Early adoption is permitted. The Company early adopted this ASU in January 2015. The effects of the pronouncement have been reflected in the consolidated financial statements.
Recent accounting pronouncements not yet adopted	Recent accounting pronouncements not yet adopted In August, 2014, the FASB issued a new pronouncement ASU 2014-15 which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements. Further, an entity must provide certain disclosures if there is “substantial doubt about the entity's ability to continue as a going concern." The new standard is effective for fiscal years ending after December 15, 2016. Adoption of this guidance may have an effect on the Group's consolidated financial statements but the impact has not yet been evaluated by the Group. In February 2015, FASB issued a new pronouncement Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. On August 12, 2015, the FASB issued a new pronouncement, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in this ASU defer the effective date of ASU 2014-09 for all entities by one year. Public business entities should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. On September 25, 2015, the FASB issued ASU 2015-16 to simplify the accounting for measurement-period adjustments. The ASU, which is part of the FASB's simplification initiative (i.e., the Board's effort to reduce the cost and complexity of certain aspects of U.S. GAAP), was issued in response to stakeholder feedback that restatements of prior periods to reflect adjustments made to provisional amounts recognized in a business combination increase the cost and complexity of financial reporting but do not significantly improve the usefulness of the information. Under the ASU, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU also requires acquirers to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. Under this ASU, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU also requires acquirers to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the ASU is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The ASU must be applied prospectively to adjustments to provisional amounts that occur after the effective date. Early adoption is permitted for financial statements that have not been issued. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02 Leases. The core principle of this ASU will require lessees to present right-of-use assets and lease liabilities on their balance sheets. ASU 2016-02 is effective for annual and interim periods beginning January 1, 2019. Early adoption of this ASU is permitted. Upon adoption of this ASU, the Group is required to recognize and measure leases at the beginning of the earliest period presented in the consolidated financial statements using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that the Company may elect to apply. The Group is currently evaluating and assessing the impact of this ASU will have on the Group's consolidated financial statements.

ORGANIZATION AND PRINCIPAL AC34

ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2015
ORGANIZATION AND PRINCIPAL ACTIVITIES
Schedule of the Group's subsidiaries, VIEs and VIEs' subsidiaries	Date of acquisition/ incorporation Place of establishment/ incorporation Percentage of legal ownership Subsidiaries: New Admiral Limited ("New Admiral") April 27, 2015 Cayman Islands 100 Join Me Group (HK) Investment Company Limited ("JMU") June 8, 2015 Hong Kong 100 Join Me Group Supply Chain Management Company Limited("JMU Supply Chain") October 15, 2015 Hong Kong 100 Shanghai Zhongming Supply Chain Management Co., Ltd. ( "Shanghai Zhongming" or "WOFE" ) June 8, 2015 PRC 100 VIE: Shanghai Zhongmin Supply Chain Management Co., Ltd. ("Shanghai Zhongmin") June 8, 2015 PRC N/A VIE's subsidiaries: Hefei Zhonglian Supply Chain Management Co., Ltd. ("Hefei Zhonglian") June 8, 2015 PRC N/A Suzhou Zhongming Internet Technology Co., Ltd. ( "Suzhou Zhongming") June 8, 2015 PRC N/A Shanghai Zhonglan Supply Chain Management Co., Ltd. ("Shanghai Zhonglan") June 8, 2015 PRC N/A Shanghai Changzhong Supply Chain Management Co., Ltd. ("Shanghai Changzhong") June 8, 2015 PRC N/A Ningbo Jiangdong Zhongmin Supply Chain Management Co., Ltd. ( “ Ningbo Jiangdong ” ) June 8, 2015 PRC N/A Nanjing Zhongminyuan Internet Technology Co., Ltd. ( “ Nanjing Zhongminyuan ” ) June 8, 2015 PRC N/A Wuhan Zhongmin Supply Chain Management Co., Ltd. ( “ Wuhan Zhongmin ” ) June 8, 2015 PRC N/A Nanchang Zhongmin Supply Chain Management Co., Ltd. ( “ Nanchang Zhongmin ” ) June 8, 2015 PRC N/A Yanbian Zhongyue Supply Chain Management Co., Ltd. ( “Yanbian Zhongyue” ) June 8, 2015 PRC N/A Beijing Zhonglan Supply Chain Management Co., Ltd. ( “Beijing Zhonglan” ) June 8, 2015 PRC N/A Zhenjiang Zhongyuan Supply Chain Management Co., Ltd. ( “Zhenjiang Zhongyuan” ) June 8, 2015 PRC N/A Taiyuan Zhongmin Supply Chain Management Co., Ltd. ( “Taiyuan Zhongmin” ) June 8, 2015 PRC N/A
Schedule of the financial statement balances and amounts of the VIEs and VIEs' subsidiaries	December 31, 2015 Cash $ 2,137,414 Accounts receivable, net 3,748,398 Prepaid expenses and other current assets 19,919,504 Inventories, net 94,409 Amounts due from related parties 661,275 Total current assets 26,561,000 Property and equipment, net 317,186 Total non-current assets 317,186 Total assets $ 26,878,186 Accounts payable 3,818,023 Accrued expenses and other current liabilities 19,134,673 Advance from customers 828,437 Amounts due to related parties 319,767 Total current liabilities 24,100,900 Total liabilities $ 24,100,900 For the year ended December 31, 2015 Revenues $ 11,477,552 Net loss $ (8,052,187) For the year ended December 31, 2015 Net cash provided by operating activities $ 238,302 Net cash used in investing activities $ (44,228) Net cash provided by financing activities $ —

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of property, plant and equipment, useful life	Computer and software 3 10
Schedule of intangible assets, useful life	Trade name/domain name 10 Non-compete agreement 4.5 Online platform 5 Customer relationship 5 10
Schedule of concentration of credit risk	For the year ended December 31, Customer 2015 A 28.4 % As of December 31, Customer 2015 A 99.9 %

BUSINESS ACQUISITION (Tables)

BUSINESS ACQUISITION (Tables)	12 Months Ended
	Dec. 31, 2015
BUSINESS ACQUISITION
Schedule of preliminary purchase price for the acquisition	Amortization Period Net tangible assets $ 28,793,669 Intangible assets: Trade name/domain name 16,228,000 10 Non-compete agreement 10,096,000 4.5 Online platform 1,364,000 5 Customer relationships 27,760,000 5 10 Total 55,448,000 Deferred tax liabilities (13,862,000 ) Goodwill 336,585,270 Total consideration $ 406,964,939
Summary of unaudited pro forma information	For the year ended December 31, 2014 2015 (unaudited) (unaudited) Pro forma revenues $ 68,298 $ 11,522,525 Pro forma net loss (16,439,806 ) (115,066,695 ) Pro forma net loss per ordinary share-basic (0.02 ) (0.09 ) Pro forma net loss per ordinary share-diluted (0.02 ) (0.09 )

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
DISCONTINUED OPERATIONS
Schedule of assets, liabilities, revenue and expenses have been reclassified as discontinued operations	December 31, 2014 Carrying amounts of assets disposed Cash $ 1,644,855 Accounts receivable, net 1,225,386 Prepaid expenses and other current assets 7,206,884 Current assets of discontinued operations 10,077,125 Property and equipment, net 2,574,081 Goodwill 7,463,706 Non-current assets of discontinued operations 10,037,787 Total assets of discontinued operations $ 20,114,912 Carrying amounts of liabilities disposed Accounts payable $ 22,679,754 Accrued expense and other current liabilities 21,669,131 Advance from customers 22,703,718 Amounts due to related parties 403,585 Income tax payable 44,100 Current liabilities of discontinued operations 67,500,288 Total liabilities of discontinued operations $ 67,500,288 For the years ended December 31, 2013 2014 2015 Net revenues $ 36,253,309 $ 30,073,452 $ 16,832,352 Cost of revenues (6,583,501 ) (7,040,383 ) (2,927,148 ) Gross profit 29,669,808 23,033,069 13,905,204 Operating expenses (61,668,332 ) (62,378,258 ) (50,212,995 ) Loss from operations (31,998,524 ) (39,345,189 ) (36,307,791 ) Gain from disposal of Group Buying Entities — — 47,390,421 Interest income 43,864 6,699 1,904 Interest expense (136,655 ) (11,798 ) — Other expenses, net (89,354 ) (196,288 ) (8,599 ) Gain from disposal of subsidiary 895 — — (Loss)/Income before income tax (32,179,774 ) (39,546,576 ) 11,075,935 Provision for income tax 80,519 — — (Loss)/Income from discontinuing operations attributable to owners of the Company $ (32,099,255 ) $ (39,546,576 ) $ 11,075,935 December 31, 2014 Amount due to Beijing Baifen Tonglian Media Technology Co., Ltd 403,585 (i) $ 403,585 (i) The amounts represents short messaging service (“SMS”) distribution platform fee, which has not been paid to Beijing Baifen Tonglian Media Technology Co., Ltd.

PREPAID EXPENSES AND OTHER CU38

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
PREPAYMENTS AND OTHER CURRENT ASSETS
Schedule of prepayments and other current assets	December 31, 2014 December 31, 2015 Receivables from third-party purchasers $ — $ 16,510,091 Amount due from third parties — 4,917,068 Advance to suppliers — 2,475,752 Prepaid rental expenses and other deposits — 865,219 Advance to employees — 245,897 Prepaid professional service fee 227,110 34,002 Other current assets — 233,405 $ 227,110 $ 25,281,434

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2015
PROPERTY AND EQUIPMENT, NET
Schedule of property and equipment, net	December 31, Computer and software $ 571,564 Total 571,564 Less: accumulated depreciation (93,489) Property and equipment, net $ 478,075

ACQUIRED INTANGIBLE ASSETS, N40

ACQUIRED INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2015
ACQUIRED INTANGIBLE ASSETS, NET
Schedule of acquired intangible assets	December 31, Trade name/domain name $ 16,228,000 Non-compete agreement 10,096,000 Online platform 1,364,000 Customer relationship 27,760,000 Total 55,448,000 Less: Accumulated amortization (4,885,055) Acquired intangible assets, net $ 50,562,945

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2015
GOODWILL
Schedule of goodwill	December 31, Gross amount: Beginning balance $ — Addition 336,585,270 Ending balance 336,585,270 Accumulated impairment loss: Beginning balance — Charge for the period (85.934.770 ) Ending balance (85.934.770 Goodwill, net $ 250,650,500

ACCRUED EXPENSES AND OTHER CU42

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Schedule of accrued expenses and other current liabilities	December 31, Payables to third-party sellers $ 17,163,716 Accrued payroll and welfare 1,219,730 Payable for professional fee 858,577 Payables for rental fee 639,753 Others 88,680 Total accrued expenses and other current liabilities $ 19,970,456

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
Schedule of credit for income tax	Year ended December 31, 2015 Income tax benefits: Current income tax expenses $ — Deferred income tax benefits 1,249,696 Total $ 1,249,696
Schedule of significant components of the deferred tax assets and liabilities	December 31, Deferred tax assets Current deferred tax assets $ - Total current deferred tax assets - Non-current Net operating loss carry forwards 1,955,301 Total deferred tax assets 1,955,301 Less: valuation allowance (1,955,301 ) Net deferred tax assets $ — Deferred tax liabilities Non-current Acquired intangible assets $ 12,640,736 Total deferred tax liabilities $ 12,640,736
Schedule of reconciliation between the income taxes benefit computed by applying the PRC tax rate to loss before income taxes and the actual provision (credit) of income taxes	For the year ended December 31, 2015 Net loss before provision for income taxes $ (105,895,819 ) Statutory tax rates in the PRC 25 % Income tax at statutory tax rate (26,473,955 ) Expenses not deductible for tax purposes Goodwill impairment 21,483,693 Entertainment expenses exceeded tax limit 7,687 Other expenses exceeded tax limit 226,428 Effect of income tax rate difference in other jurisdiction 4,050,542 Changes of valuation allowance 1,955,301 Income tax benefits $ 1,249,696

CONVERITBLE REDEEMABLE PREFER44

CONVERITBLE REDEEMABLE PREFERRED SHARES (Tables)	12 Months Ended
	Dec. 31, 2014
CONVERITBLE REDEEMABLE PREFERRED SHARES
Schedule of changes in Preferred Shares balance	Series A-1 Preferred Series A-2 Preferred Shares Series B Preferred Shares Total Balance as of January 1, 2013 $ 4,111,914 $ 28,072,921 $ 14,012,736 $ 46,197,571 Accretion for the Preferred Shares 1,199,007 34,336,421 2,106,420 37,641,848 Balance as of December 31, 2013 $ 5,310,921 $ 62,409,342 $ 16,119,156 $ 83,839,419 Accretion for the Preferred Shares 1,445,125 36,947,001 2,422,383 40,814,509 Balance as of December 31, 2014 $ 6,756,046 $ 99,356,343 $ 18,541,539 $ 124,653,928 Accretion for the Preferred Shares 442,409 1,202,748 720,194 2,365,351 Conversion to Ordinary Shares (7,198,455 (100,559,091 (19,261,733 (127,019,279 Balance as of December 31, 2015 $ - $ - $ - $ -

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
SHARE-BASED COMPENSATION [Abstract]
Schedule of Outstanding RSUs	Outstanding RSUs Weighted average Number of grant date RSUs fair value Outstanding as of January 1, 2015 - $ - Granted 28,841,700 0.265 Forfeited and expired (201,800 ) 0.265 Vested 28,639,900 0.265 Outstanding as of December 31, 2015 28,639,900 $ 0.265 Exercisable as of December 31, 2015 28,639,900 $ 0.265
Schedule of fair value assumptions	March 15, 2013 April 18, September 1, Expected volatility (1) 65 58 60.3 65.1 Risk-free interest rate (2) 0.90 1.8 0.47 0.88 Expected dividend yield (3) nil nil nil Exercise price (4) $ 0.2 $ 0.01 $ 0.01 0.20 Fair value of the underlying ordinary shares (5) $ $ 0.0611 $ $ 0.0590 $ 0.38 (1) Volatility The volatility of the underlying ordinary shares during the life of the options was estimated based on average historical volatility of comparable companies for the period before the valuation date with lengths equal to the life of the options. (2) Risk-free rate Risk free rate is estimated based on yield to maturity of PRC international government bonds with maturity term close to the life of the options. (3) Dividend yield The dividend yield was estimated by the Group based on its expected dividend policy over the life of the options. (4) Exercise price The exercise price of the options was determined by the Group's Board of Directors. (5) Fair value of underlying ordinary shares
Summary of information regarding share options granted	Options Number of share options Weighted average exercise price Weighted average grant date fair value Weighted average remaining contractual life Aggregate intrinsic value Outstanding as of January 1, 2015 39,249,022 $ 0.07 $ 0.11 2.51 $ 3,512,311 Granted — $ — $ — — — Forfeited and expired (1,079,202 ) $ 0.02 $ 0.08 — — Exercised (6,866,280 ) $ 0.02 $ 0.08 — — Outstanding as of December 31, 2015 31,303,540 $ 0.08 $ 0.26 1.34 $ 1,734,975 Exercisable as of December 31, 2015 31,303,540 $ 0.08 $ 0.26 1.34 $ 1,734,975

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
NET LOSS PER SHARE [Abstract]
Schedule of net loss per share, basic and diluted	For the years ended December 31, 2013 2014 2015 Numerator: Net loss attributable to Wowo Limited $ (32,172,344 ) $ (43,856,347 ) $ (93,570,188 ) -Continuing operations (73,089 ) (4,323,249 ) (104,646,123 ) -Discontinued operations (32,099,255 ) (39,533,098 ) 11,075,935 Accretion for Series A-1 Preferred Shares (1,199,007 ) (1,445,125 ) (442,409 ) Accretion for Series A-2 Preferred Shares (34,336,421 ) (36,947,001 ) (1,202,748 ) Accretion for Series B Preferred Shares (2,106,420 ) (2,422,383 ) (720,194 ) Net loss attributable to ordinary shareholders for computing basic net loss per ordinary shares (69,814,192 ) (84,670,856 ) (95,935,539 ) -Continuing operations (158,604 ) (8,346,641 ) (104,646,123 ) -Discontinued operations (69,655,588 ) (76,324,215 ) 8,710,584 Accretion for Series A-1 Preferred Shares 1,199,007 1,445,125 442,409 Net income attributable to Series A-1 P referred Shareholders for computing basic net income per Series A-1 Preferred Shares 1,199,007 1,445,125 442,409 Accretion for Series A-2 Preferred Shares 34,336,421 36,947,001 1,202,748 Net income attributable to Series A-2 P referred Shareholders for computing basic net income per Series A-2 Preferred Shares 34,336,421 36,947,001 1,202,748 Accretion for Series B Preferred Shares 2,106,420 2,422,383 720,194 Net income attributable to Series B P referred Shareholders for computing basic net income per Series B Preferred Shares 2,106,420 2,422,383 720,194 Denominator: Weighted average ordinary shares outstanding used in computing basic net loss per ordinary shares 303,886,640 303,886,640 1,001,754,524 Weighted average ordinary shares outstanding used in computing diluted net loss per ordinary shares 303,886,640 303,886,640 1,001,754,524 Weighted average shares outstanding used in computing basic net income per Series A-1 Preferred Shares 12,202,988 12,202,988 3,242,986 Weighted average shares outstanding used in computing basic net income per Series A-2 Preferred Shares 122,029,877 122,029,877 32,429,858 Weighted average shares outstanding used in computing basic net income per Series B Preferred Shares 30,507,471 30,507,471 8,107,465 Net loss per ordinary shares Basic $ (0.23 ) $ (0.28 ) $ (0.09 ) Diluted $ (0.23 ) $ (0.28 ) $ (0.09 ) Net loss per ordinary share from continuing operations Basic (0.00 ) (0.03 ) (0.10 ) Diluted (0.00 ) (0.03 ) (0.10 ) Net (loss)/income per share from discontinued operations Basic (0.23 ) (0.25 ) 0.01 Diluted (0.23 ) (0.25 ) 0.01 Net income per Series A-1 P referred S hares—Basic $ 0.10 $ 0.12 $ 0.14 Net income per Series A-2 P referred S hares—Basic $ 0.28 $ 0.30 $ 0.04 Net income per Series B P referred S hares—Basic $ 0.07 $ 0.08 $ 0.09 Weighted average shares used in calculating net loss per ordinary shares Basic Continuing operations 303,886,640 303,886,640 1,001,754,524 Discontinued operations 303,886,640 303,886,640 1,001,754,524 Diluted Continuing operations 303,886,640 303,886,640 1,001,754,524 Discontinued operations 303,886,640 303,886,640 1,043,473,265 Weighted average shares used in calculating net loss per Series A-1 preferred shares 12,202,988 12,202,988 3,242,986 Series A-2 preferred shares 122,029,877 122,029,877 32,429,858 Series B preferred shares 30,507,471 30,507,471 8,107,465

RELATED PARTY BALANCES AND TR47

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
RELATED PARTY BALANCES AND TRANSACTIONS [Abstract]
Schedule of nature of the relationships with related parties	Name Relationship with the Company Mr. Xu Shareholder Dallsfield Ltd. Controlled by Mr.Xu Rizhao Yinxingshu Equity Investment Fund, L.P Controlled by Mr. Xu Beijing Shiletao Ecommerce Co., Ltd. Controlled by Mr. Xu Noodles Dao (HK) Co., Ltd. Controlled by Xiaoxia Zhu Hong Kong Sunward Fishery Restaurant Management Co., Ltd. Controlled by Xiaoxia Zhu Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Nanjing Yongji Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Ningbo Jingzhou Sunward Logistics Co., Ltd. Controlled by Xiaoxia Zhu Zhejiang Sunward Fishery Restaurant Co., Ltd. Controlled by Xiaoxia Zhu Shanghai MIN Group Co., Ltd. Controlled by Huimin Wang Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. Controlled by Huimin Wang WM Ming Hotel Controlled by Huimin Wang Shanghai MIN Hongshi Trading Co., Ltd. Controlled by Huimin Wang
Schedule of balances due from/to the related parties	December 31, December 3 1 , 2014 2015 Amount due to Dallsfield Ltd. 250,000 (ii) - Amount due to Rizhao Yinxingshu Equity Investment Fund, L.P 32,717,713 (ii) - Amount due to Beijing Shiletao Ecommerce Co., Ltd. 969,927 (ii) - Amount due to Mr. Xu 28,027,637 (ii) - Amount due to Shanghai MIN Hongshi Trading Co., Ltd. - 319,767 (iii) Total $ 61,965,277 $ 319,767 (ii) The amounts represents the funds provided by Mr. Xu, to support the working capital for the Group's daily operations, which was included in the indebtedness from Mr. Xu and had been converted into ordinary shares immediately after the completion of the IPO. (iii) The amounts represents the payables to related parties who sell products on JMU online platform. December 31, 2015 Amount due from Noodles Dao (HK) Co., Ltd. $ 74,187 (i) Amount due from Hong Kong Sunward Fishery Restaurant Management Co., Ltd. 70,962 (i) Amount due from Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd. 29,469 (i) Amount due from Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. 29,831 (i) Amount due from Nanjing Yongji Sunward Fishery Restaurant Co., Ltd. 13,015 (i) Amount due from Ningbo Jingzhou Sunward Logistics Co., Ltd. 149,033 (i) Amount due from Zhejiang Sunward Fishery Restaurant Co., Ltd. 128,845 (i) Amount due from Shanghai MIN Group Co., Ltd. 48,643 (i) Amount due from Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. 260,623 (i) Amount due from WM Ming Hotel 1,815 (i) Total $ 806,423 (i) The amounts represents the receivables from related parties who purchase product on JMU online platform.
Schedule of related party transactions	Rental expense to: For the year ended December 31,2015 Amount due to Shanghai MIN Group Co., Ltd. $ 335,249 Total $ 335,249 Revenue from: For the year ended December 31, 2015 Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. $ 393,147 Ningbo Jingzhou Sunward Logistics Co., Ltd. 58,560 Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd. 38,179 Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. 32,726 Nanjing Yongji Sunward Fishery Restaurant Co., Ltd. 17,573 WM Ming Hotel 1,573 Total $ 541,758

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
The schedule of the future minimum lease payments under non-cancelable operating lease agreements	2016 $ 1,483,747 2017 1,432,141 2018 1,436,065 2019 1,432,141 2020 1,432,141 2021 and after 13,689,704 Total $ 20,905,939

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of components of net revenue	December 31, 2015 Online direct sales $ 11,477,552 Online platform services — Total $ 11,477,552

ORGANIZATION AND PRINCIPAL AC50

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details) - USD ($)	Sep. 09, 2015	Jun. 08, 2015	Jun. 05, 2015	Apr. 27, 2015	Apr. 08, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Organization Consolidation And V I E Arrangements [Line Items]
Maximum foreign ownership in equity interest of PRC internet businesses (as a percent)						50.00%
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Cash						$ 11,151,900	$ 1,317	$ 419,305	$ 4,247,374
Accounts receivable, net						3,748,398
Prepaid expenses and other current assets						25,281,434	$ 227,110
Inventories, net						94,409
Amounts due from related parties						806,423
Total current assets						41,082,564	$ 10,305,552
Property and equipment, net						478,075
Total assets						342,774,084	$ 20,343,339
Advance from customers						828,437
Accounts payable						3,831,218
Accrued expenses and other current liabilities						19,970,456
Amounts due to related parties						319,767
Total current liabilities						24,949,878	$ 67,500,288
Total liabilities						38,092,794	$ 129,465,565
Revenues						11,477,552
Net loss						(93,570,188)	$ (43,856,347)	$ (32,172,344)
Net cash provided by/ (used in) operating activities						(10,731,755)	$ (260,441)	$ (232,923)
Net cash used in investing activities						(9,896,955)
Net cash provided by financing activities						52,919,228	$ 35,419,851	$ 24,640,278
Net cash provided by operating activities						(33,531,299)	(31,960,060)	(28,753,316)
Net cash used in investing activities						(11,896,319)	(586,534)	2,118,463
Net cash provided by financing activities						$ 54,882,878	$ 33,767,971	$ 22,736,060
Century Winning Limited [Member] | Wowo Group Limited [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Payment received from sale of equity interest of a subsidiary	$ 1
Payment by Buyer for net liabilities	$ 47,390,420
JMU HK [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Ordinary shares issued for consideration		741,422,780	741,422,780
Cash consideration			$ 30,000,000
Ordinary shares [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Shares issued						75,960,000
Ordinary shares issued for consideration						741,422,780
Ordinary shares [Member] | IPO [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Shares issued					72,000,000
Ordinary shares [Member] | Over-allotment option [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Shares issued				3,960,000
ADS [Member] | IPO [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Shares issued					4,000,000
Net proceeds received					$ 35,200,000
Price per share					$ 10
ADS [Member] | Over-allotment option [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Shares issued				220,000
Net proceeds received				$ 2,100,000
Price per share				$ 10
VIEs [Member]
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Cash						$ 2,137,414
Accounts receivable, net						3,748,398
Prepaid expenses and other current assets						19,919,504
Inventories, net						94,409
Amounts due from related parties						661,275
Total current assets						26,561,000
Property and equipment, net						317,186
Total noncurrent assets						317,186
Total assets						26,878,186
Advance from customers						828,437
Accounts payable						3,818,023
Accrued expenses and other current liabilities						19,134,673
Amounts due to related parties						319,767
Total current liabilities						24,100,900
Total liabilities						24,100,900
Revenues						11,477,552
Net loss						$ (8,052,187)
Percentage contributed to consolidated revenues						100.00%
Percentage contributed to consolidated total assets						7.80%
Percentage contributed to consolidated total liabilities						63.30%
Net cash provided by operating activities						$ 238,302
Net cash used in investing activities						$ (44,228)
Net cash provided by financing activities
New Admiral [Member]
Organization Consolidation And V I E Arrangements [Line Items]
Percentage of legal ownership						100.00%
JMU HK [Member]
Organization Consolidation And V I E Arrangements [Line Items]
Percentage of legal ownership						100.00%
Shanghai Zhongming" or "WOFE" [Member]
Organization Consolidation And V I E Arrangements [Line Items]
Percentage of legal ownership						100.00%
Financial statement balances and amounts of the VIEs and VIEs' subsidiaries
Period for which service agreements shall remain effective upon the written confirmation issued by WOFE to Zhongmin and/or its shareholder						30 days
Period for which Proxy Agreement and Power of Attorney shall remain effective upon the written confirmation issued by WOFE to Zhongmin and/or its shareholder						30 days
Period for which exclusive option agreements shall remain effective upon the written confirmation issued by WOFE to Zhongmin and/or its shareholder						30 days
JMU Supply Chain [Member]
Organization Consolidation And V I E Arrangements [Line Items]
Percentage of legal ownership						100.00%

GOING CONCERN (Details)

GOING CONCERN (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2016CNY (¥)
Net loss	$ (93,570,188)	$ (43,856,347)	$ (32,172,344)
Negative cash flows from operations	$ (33,531,299)	$ (31,960,060)	$ (28,753,316)
Ms. Huimin Wang [Member] | Working Capital Loan [Member] | Subsequent event [Member]
Interest-free loan to fund				$ 6,174,920	¥ 40,000,000

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Value-added tax ("VAT")
VAT rate one (as a percent)	17.00%
VAT rate two (as a percent)	13.00%
Inventories
Inventory written-down

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Impairment of intangible assets with finite life
Intangible asset impairment loss	$ 0	$ 0	$ 0
Impairment of goodwill
Goodwill impairment loss	$ 85,934,770
Comprehensive loss
Other comprehensive loss, tax
Trade name/domain name [Member]
Acquired intangible assets
Amortization years	10 years
Non-compete agreement [Member]
Acquired intangible assets
Amortization years	4 years 6 months
Online platform [Member]
Acquired intangible assets
Amortization years	5 years
Minimum [Member] | Customer relationship [Member]
Acquired intangible assets
Amortization years	5 years
Maximum [Member] | Customer relationship [Member]
Acquired intangible assets
Amortization years	10 years
Computer and software [Member] | Minimum [Member]
Property and equipment, net [Line Items]
Estimated useful lives	3 years
Computer and software [Member] | Maximum [Member]
Property and equipment, net [Line Items]
Estimated useful lives	10 years

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - Customer concentration risk [Member] - Customer A [Member]	12 Months Ended
	Dec. 31, 2015
Revenue [Member]
Concentration of credit risk [Line Items]
Concentration risk, percentage	28.40%
Accounts receivable [Member]
Concentration of credit risk [Line Items]
Concentration risk, percentage	99.90%

BUSINESS ACQUISITION (Details)

BUSINESS ACQUISITION (Details) - JMU HK [Member] - USD ($)	Jun. 08, 2015	Jun. 05, 2015
BUSINESS ACQUISITION [Line Items]
Ordinary shares issued for consideration	741,422,780	741,422,780
Cash consideration		$ 30,000,000
Ordinary shares issued for consideration, subject to lock-up period		311,842,983
Percentage of lock-up shares which will be removed on each anniversary date of the issuance date		0.3333%
Period for which specified percentage of lock-up shares which will be removed on each anniversary date of the issuance date		3 years
Stock price per American Depositary Shares (in dollars per share)		$ 10.39
Percentage of discount rate to the stock price for shares that are subject to lock-up		28.00%
Period for which specified percentage of lock-up shares which will be used to determine value of consideration date of the issuance date		3 years

BUSINESS ACQUISITION (Details 2

BUSINESS ACQUISITION (Details 2) - USD ($)	Jun. 05, 2015	Dec. 31, 2015	Dec. 31, 2014
BUSINESS ACQUISITION [Line Items]
Goodwill		$ 250,650,500
Trade name/domain name [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period		10 years
Non-compete agreement [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period		4 years 6 months
Online platform [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period		5 years
Customer relationships [Member] | Minimum [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period		5 years
Customer relationships [Member] | Maximum [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period		10 years
JMU HK [Member]
BUSINESS ACQUISITION [Line Items]
Net tangible assets	$ 28,793,669
Total	55,448,000
Deferred tax liabilities	(13,862,000)
Goodwill	336,585,270
Total consideration	406,964,939
JMU HK [Member] | Trade name/domain name [Member]
BUSINESS ACQUISITION [Line Items]
Intangible assets:	$ 16,228,000
Amortization Period	10 years
JMU HK [Member] | Non-compete agreement [Member]
BUSINESS ACQUISITION [Line Items]
Intangible assets:	$ 10,096,000
Amortization Period	4 years 6 months
JMU HK [Member] | Online platform [Member]
BUSINESS ACQUISITION [Line Items]
Intangible assets:	$ 1,364,000
Amortization Period	5 years
JMU HK [Member] | Customer relationships [Member]
BUSINESS ACQUISITION [Line Items]
Intangible assets:	$ 27,760,000
JMU HK [Member] | Customer relationships [Member] | Minimum [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period	5 years
JMU HK [Member] | Customer relationships [Member] | Maximum [Member]
BUSINESS ACQUISITION [Line Items]
Amortization Period	10 years

BUSINESS ACQUISITION (Details 3

BUSINESS ACQUISITION (Details 3) - JMU HK [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
BUSINESS ACQUISITION [Line Items]
Pro forma revenues	$ 11,522,525	$ 68,298
Pro forma net loss	$ (115,066,695)	$ (16,439,806)
Pro forma net loss per ordinary share-basic	$ (0.09)	$ (0.02)
Pro forma net loss per ordinary share-diluted	$ (0.09)	$ (0.02)

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
DISCONTINUED OPERATIONS [Line Items]
Gain on disposal	$ 47,390,421
Carrying amounts of assets disposed
Current assets of discontinued operations		$ 10,077,125
Non-current assets of discontinued operations		10,037,787
Carrying amounts of liabilities disposed
Current liabilities of discontinued operations		$ 67,500,288
Wowo Group Limited [Member]
DISCONTINUED OPERATIONS [Line Items]
Gain on disposal	$ (47,390,421)
Carrying amounts of assets disposed
Cash		$ 1,644,855
Accounts receivable, net		1,225,386
Prepaid expenses and other current assets		7,206,884
Current assets of discontinued operations		10,077,125
Property and equipment, net		2,574,081
Goodwill		7,463,706
Non-current assets of discontinued operations		10,037,787
Total assets of discontinued operations		20,114,912
Carrying amounts of liabilities disposed
Accounts payable		22,679,754
Accrued expense and other current liabilities		21,669,131
Advance from customers		22,703,718
Amounts due to related parties		403,585
Income tax payable		44,100
Current liabilities of discontinued operations		67,500,288
Total liabilities of discontinued operations		$ 67,500,288

DISCONTINUED OPERATIONS (Deta59

DISCONTINUED OPERATIONS (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
DISCONTINUED OPERATIONS [Line Items]
Gain from disposal of Group Buying Entities	$ (47,390,421)
(Loss)/Income before income tax	$ 11,075,935	$ (39,546,576)	$ (32,179,774)
Provision for income tax			80,519
(Loss)/Income from discontinuing operations attributable to owners of the Company	$ 11,075,935	$ (39,546,576)	(32,099,255)
Wowo Group Limited [Member]
DISCONTINUED OPERATIONS [Line Items]
Net revenues	16,832,352	30,073,452	36,253,309
Cost of revenues	(2,927,148)	(7,040,383)	(6,583,501)
Gross profit	13,905,204	23,033,069	29,669,808
Operating expenses	(50,212,995)	(62,378,258)	(61,668,332)
Loss from operations	(36,307,791)	$ (39,345,189)	$ (31,998,524)
Gain from disposal of Group Buying Entities	47,390,421
Interest income	$ 1,904	$ 6,699	$ 43,864
Interest expense		(11,798)	(136,655)
Other expenses, net	$ (8,599)	$ (196,288)	(89,354)
Gain from disposal of subsidiary			895
(Loss)/Income before income tax	$ 11,075,935	$ (39,546,576)	(32,179,774)
Provision for income tax			80,519
(Loss)/Income from discontinuing operations attributable to owners of the Company	$ 11,075,935	$ (39,546,576)	$ (32,099,255)

DISCONTINUED OPERATIONS (Deta60

DISCONTINUED OPERATIONS (Details 3) - Wowo Group Limited [Member] - USD ($)		Dec. 31, 2015	Dec. 31, 2014
DISCONTINUED OPERATIONS [Line Items]
Amounts due to related parties			$ 403,585
Beijing Baifen Tonglian Media Technology Co., Ltd [Member]
DISCONTINUED OPERATIONS [Line Items]
Amounts due to related parties	[1]	$ 403,585
[1]	The amounts represents short messaging service (“SMS”) distribution platform fee, which has not been paid to Beijing Baifen Tonglian Media Technology Co., Ltd.

PREPAID EXPENSES AND OTHER CU61

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Receivables from third-party purchasers	$ 16,510,091
Amount due from third parties	4,917,068
Advance to suppliers	2,475,752
Prepaid rental expenses and other deposits	865,219
Advance to employees	245,897
Prepaid professional service fee	34,002	$ 227,110
Other current assets	233,405
Prepaid expenses and other current assets	$ 25,281,434	$ 227,110

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 571,564
Less: accumulated depreciation	(93,489)
Property and equipment, net	478,075
Depreciation of expenses	63,981
Computer and software [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 571,564

ACQUIRED INTANGIBLE ASSETS, N63

ACQUIRED INTANGIBLE ASSETS, NET (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	$ 55,448,000
Less: Accumulated amortization	(4,885,055)
Acquired intangible assets, net	50,562,945
Amortization expenses	4,885,055
Impairment loss	0	$ 0	$ 0
Trade name and domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	16,228,000
Non-compete agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	10,096,000
Online platform [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	1,364,000
Customer relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	$ 27,760,000

GOODWILL (Details)

GOODWILL (Details)	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Goodwill rollforward
Beginning balance
Addition	$ 336,585,270
Ending balance	$ 336,585,270
Accumulated impairment loss:
Beginning balance
Charge for the period	$ 85,934,770
Ending balance
Goodwill, net	$ 250,650,500
Number of reporting units | item	1

ACCRUED EXPENSES AND OTHER CU65

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details)	Dec. 31, 2015USD ($)
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Payables to third-party sellers	$ 17,163,716
Accrued payroll and welfare	1,219,730
Payable for professional fee	858,577
Payables for rental fee	639,753
Others	88,680
Total accrued expenses and other current liabilities	$ 19,970,456

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Line Items]
Income tax rate (as a percent)	25.00%
Taxable income for foreign entities	$ 0
Taxable income for domestic entities	$ 0
Income tax benefits:
Current income tax expenses
Deferred income tax benefits	$ 1,249,696
Income tax benefits	$ 1,249,696
Deferred tax assets, Current
Current deferred tax assets
Total current deferred tax assets
Deferred tax assets, Non-current
Net operating loss carry forwards	$ 1,955,301
Total deferred tax assets	1,955,301
Less: valuation allowance	$ (1,955,301)
Net deferred tax assets
Deferred tax liabilities, Non-current
Acquired intangible assets	$ 12,640,736
Total deferred tax liabilities	12,640,736
Net operating losses carry forwards	8,064,039
Reconciliation between the income taxes benefit computed by applying the PRC tax rate to loss before income taxes and the actual credit for income taxes [Abstract]
Net loss before provision for income taxes	$ (105,895,819)	$ (4,323,249)	$ (73,089)
Statutory tax rates in the PRC	25.00%
Income tax at statutory tax rate	$ (26,473,955)
Expenses not deductible for tax purposes
Goodwill impairment	21,483,693
Entertainment expenses exceeded tax limit	7,687
Other expenses exceeded tax limit	226,428
Effect of income tax rate difference in other jurisdiction	4,050,542
Changes of valuation allowance	1,955,301
Income tax benefits	1,249,696
Aggregate undistributed earnings	0
Deferred tax liability payable upon the distribution of aggregate undistributed earnings	0
Inland Revenue, Hong Kong [Member]
Income tax benefits:
Income tax benefits	0	$ 0	$ 0
Expenses not deductible for tax purposes
Income tax benefits	$ 0	$ 0	$ 0
State Administration of Taxation, China [Member]
Income Tax Disclosure [Line Items]
Income tax rate (as a percent)	25.00%
Reconciliation between the income taxes benefit computed by applying the PRC tax rate to loss before income taxes and the actual credit for income taxes [Abstract]
Statutory tax rates in the PRC	25.00%

ORDINARY SHARES (Details)

ORDINARY SHARES (Details) - USD ($)

Sep. 27, 2015

Sep. 07, 2015

Jun. 08, 2015

Jun. 05, 2015

Apr. 27, 2015

Apr. 08, 2015

Feb. 29, 2012

Apr. 03, 2011

Jul. 05, 2011

Dec. 31, 2015

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

ORDINARY SHARES [Line Items]

Total proceeds from issuance of ordinary shares upon IPO, after deducting the IPO related cost

$ 40,294,600

IPO related cost

2,125,372

$ 874,628

Amount of Mr. Xu's indebtness converted into ordinary shares

69,353,223

Total purchase price

376,964,937

Shares issued pursuant to supplemental agreement

$ 15,000,000

Employees and former employees [Member]

ORDINARY SHARES [Line Items]

Ordinary shares issued upon the exercise of their share options

6,866,280

Common shares remain for future issuance

31,496,832

31,496,832

JMU [Member]

ORDINARY SHARES [Line Items]

Ordinary shares issued for consideration

741,422,780

741,422,780

Stock Issued During Period Shares Acquisitions Subject To Lock Up Period

311,842,983

Mr. Xu [Member]

ORDINARY SHARES [Line Items]

Additional subscription amount

27,000,000

Stock Issued During Period, Shares, Other

27,000,000

Mr. Xu [Member] | JMU [Member]

ORDINARY SHARES [Line Items]

Ordinary shares issued for consideration

72,000,000

Additional subscription amount

27,000,000

Purchase price (in dollars per share)

$ 0.5556

Total purchase price

$ 40,000,000

Shares issued pursuant to supplemental agreement

$ 15,000,000

Stock Issued During Period, Shares, Other

27,000,000

Ordinary shares [Member]

ORDINARY SHARES [Line Items]

Shares issued

75,960,000

Total proceeds from issuance of ordinary shares upon IPO, after deducting the IPO related cost

$ 37,294,600

IPO related cost

3,000,000

Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO

164,740,336

Amount of Mr. Xu's indebtness converted into ordinary shares

$ 69,400,000

$ 1,248

Ordinary shares issued upon conversion of Mr. Xu's debt

124,835,802

124,835,802

Ordinary shares issued for consideration

741,422,780

Additional subscription amount

27,000,000

Total purchase price

$ 7,414

Shares issued pursuant to supplemental agreement

$ 270

Stock Issued During Period, Shares, Other

27,000,000

Ordinary shares issued upon the exercise of their share options

6,866,280

Ordinary shares [Member] | Employees and former employees [Member]

ORDINARY SHARES [Line Items]

Shares issued and transferred to depositary bank

38,363,112

Ordinary shares [Member] | IPO [Member]

ORDINARY SHARES [Line Items]

Shares issued

72,000,000

Ordinary shares [Member] | Over-allotment option [Member]

ORDINARY SHARES [Line Items]

Shares issued

3,960,000

ADS [Member] | Employees and former employees [Member]

ORDINARY SHARES [Line Items]

Shares issued and transferred to depositary bank

2,131,284

ADS [Member] | IPO [Member]

ORDINARY SHARES [Line Items]

Shares issued

4,000,000

Price per share

$ 10

ADS [Member] | Over-allotment option [Member]

ORDINARY SHARES [Line Items]

Shares issued

220,000

Price per share

$ 10

Series A-1 Preferred Shares [Member]

ORDINARY SHARES [Line Items]

IPO related cost

$ 18,072

Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO

12,202,988

Series A-2 Preferred Shares [Member]

ORDINARY SHARES [Line Items]

IPO related cost

$ 192,149

Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO

122,029,877

Series B Preferred Shares [Member]

ORDINARY SHARES [Line Items]

IPO related cost

$ 31,153

Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO

30,507,471

CONVERITBLE REDEEMABLE PREFER68

CONVERITBLE REDEEMABLE PREFERRED SHARES (Details)	Apr. 08, 2015shares	Feb. 29, 2012USD ($)$ / shares	Feb. 29, 2012$ / shares	Jul. 05, 2011USD ($)$ / shares	Jun. 08, 2011USD ($)	Jun. 08, 2011$ / shares	May. 25, 2011USD ($)	May. 25, 2011$ / shares	Apr. 03, 2011USD ($)$ / shares	Jul. 05, 2011USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
IPO related costs											$ 2,125,372	$ 874,628
Number of board of directors appointed											4
Preferred Stocks, Outstanding [Roll Forward]
Beneficial conversion feature														$ 43,234,050
Ordinary shares [Member]
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
Number of board of directors appointed											3
Conversion ratio	1
Preferred Shares [Member]
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
Number of board of directors appointed											1
Minimum qualified IPO proceeds to automatically convert shares to ordinary shares											100,000,000
Preferred Stocks, Outstanding [Roll Forward]
Balance as of the beginning of the year											124,653,928	83,839,419	$ 46,197,571
Accretion for the Preferred Shares											2,365,351	40,814,509	37,641,848
Conversion to Ordinary Shares											$ (127,019,279)
Balance as of the end of the year												$ 124,653,928	83,839,419	46,197,571
Series A [Member]
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
Percentage of common shares subscription price used to measure reduction of preferred shares subscription price											0.85%
Adjusted priced of preferred shares, as a percentage to additional ordinary shares issued											0.85%
Conversion rate at issuance date											1
Conversion rate at end of year											1	1
Series A-1 Preferred Shares [Member]
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
Convertible redeemable preferred shares, shares issued		$ 6,713,384							$ 5,489,604
Issuance price | $ / shares			$ 0						$ 0.9108
Issuance cash proceeds									$ 5,000,000
IPO related costs									$ 18,072
Conversion price | $ / shares		$ 0.4097
Dividend rate											8.00%
Liquidation preference, as a percent to issue price											100.00%
Preferred Stocks, Outstanding [Roll Forward]
Balance as of the beginning of the year											$ 6,756,046	$ 5,310,921	4,111,914
Accretion for the Preferred Shares											442,409	1,445,125	1,199,007
Conversion to Ordinary Shares											$ (7,198,455)
Balance as of the end of the year												6,756,046	5,310,921	4,111,914
Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO | shares	12,202,988
Series A-2 Preferred Shares [Member]
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
Convertible redeemable preferred shares, shares issued		$ 70,690,413		$ 18,482,206	$ 2,053,580		$ 30,803,678
Issuance price | $ / shares			0	$ 0.9739		$ 0.9739		$ 0.9739
Issuance cash proceeds				$ 18,000,000	$ 2,000,000		$ 30,000,000
IPO related costs										$ 192,149
Conversion price | $ / shares			$ 0.4097
Dividend rate											8.00%
Liquidation preference, as a percent to issue price											100.00%
Preferred Stocks, Outstanding [Roll Forward]
Balance as of the beginning of the year											$ 99,356,343	62,409,342	28,072,921
Accretion for the Preferred Shares											1,202,748	36,947,001	34,336,421
Conversion to Ordinary Shares											$ (100,559,091)
Balance as of the end of the year												99,356,343	62,409,342	28,072,921
Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO | shares	122,029,877
Series B Preferred Shares [Member]
CONVERITBLE REDEEMABLE PREFERRED SHARES [Line Items]
Convertible redeemable preferred shares, shares issued		$ 30,507,471
Issuance price | $ / shares		$ 0.4097
Issuance cash proceeds		$ 12,500,000
IPO related costs		$ 31,153
Dividend rate											8.00%
Liquidation preference, as a percent to issue price											100.00%
Percentage of common shares subscription price used to measure reduction of preferred shares subscription price											0.85%
Adjusted priced of preferred shares, as a percentage to additional ordinary shares issued											0.85%
Conversion rate at issuance date											1
Conversion rate at end of year											1
Preferred Stocks, Outstanding [Roll Forward]
Balance as of the beginning of the year											$ 18,541,539	16,119,156	14,012,736
Accretion for the Preferred Shares											720,194	2,422,383	2,106,420
Conversion to Ordinary Shares											$ (19,261,733)
Balance as of the end of the year												$ 18,541,539	$ 16,119,156	$ 14,012,736
Ordinary shares issued upon automatic conversion of preferred shares, upon the completion of the IPO | shares	30,507,471

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets and liabilities measured and recorded at fair value on a recurring and non-recurring basis [Line Items]
Fair value inputs, discount rate	17.00%
Impairment of goodwill	$ 85,934,770

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - 2011 Plan [Member] - $ / shares	Apr. 18, 2014	Mar. 15, 2013	Dec. 31, 2015	Dec. 31, 2012	Dec. 31, 2013
SHARE-BASED COMPENSATION [Line Item]
Share options granted
Exercise price
Estimated fair value at grant date
Options [Member]
SHARE-BASED COMPENSATION [Line Item]
Vesting period				48 months
Exercise period					5 years
Restricted Stock Units (RSUs) [Member]
SHARE-BASED COMPENSATION [Line Item]
Exercise price			$ 0
Recognition period			2 years
Number of RSUs
Outstanding at beginning of year
Granted			28,841,700
Forfeited and expired			(201,800)
Vested			28,639,900
Outstanding at end of year			28,639,900
Exercisable at end of year			28,639,900
Weighted average grant date fair value
Outstanding at beginning of year
Granted			$ 0.265
Forfeited and expired			0.265
Vested			0.265
Outstanding at end of year			0.265
Exercisable at end of year			$ 0.265
Employees [Member]
SHARE-BASED COMPENSATION [Line Item]
Share options granted	9,341,500	1,128,590
Exercise price	$ 0.01	$ 0.2
Managements [Member]
SHARE-BASED COMPENSATION [Line Item]
Share options granted	2,104,000	100,000
Exercise price	$ 0.01	$ 0.2
First tranche [Member] | Restricted Stock Units (RSUs) [Member]
SHARE-BASED COMPENSATION [Line Item]
Vesting percentage			50.00%
Second tranche [Member] | Restricted Stock Units (RSUs) [Member]
SHARE-BASED COMPENSATION [Line Item]
Vesting percentage			50.00%

SHARE-BASED COMPENSATION (Det71

SHARE-BASED COMPENSATION (Details 2) - USD ($)	Sep. 01, 2015	Sep. 29, 2014	Apr. 18, 2014	Mar. 15, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating expense [Member] | Continuing operations [Member]
Other disclosures
Share-based compensation
Operating expense [Member] | Discontinued operations [Member]
Other disclosures
Share-based compensation					$ 7,176,600	$ 1,571,935	$ 909,904
2011 Plan [Member]
Number of share options
Outstanding at beginning of year					39,249,022
Granted
Forfeited and expired					(1,079,202)
Exercised					(6,866,280)
Outstanding at end of year					31,303,540	39,249,022
Exercisable at end of year					31,303,540
Weighted average exercise price
Outstanding at beginning of year					$ 0.07
Granted
Forfeited and expired					$ 0.02
Exercised					0.02
Outstanding at end of year					0.08	$ 0.07
Exercisable at end of year					0.08
Weighted average grant date fair value
Outstanding at beginning of year					$ 0.11
Granted
Forfeited and expired					$ 0.08
Exercised					0.08
Outstanding at end of year					0.26	$ 0.11
Exercisable at end of year					$ 0.26
Weighted average remaining contractual life
Outstanding at end of year					1 year 4 months 2 days	2 years 6 months 4 days
Exercisable at end of year					1 year 4 months 2 days
Aggregate intrinsic value
Outstanding					$ 1,734,975	$ 3,512,311
Exercisable					1,734,975
Other disclosures
Share-based compensation due to modification					7,503,976
Reversal amount of share-based compensation					$ 327,376
2011 Plan [Member] | Options [Member]
Other disclosures
Unvested options	3,312,618
Fair value assumptions
Expected volatility			58.00%	65.00%
Risk-free interest rate			1.80%	0.90%
Expected dividend yield
Exercise price			$ 0.01	$ 0.2
Fair value of the underlying ordinary shares	$ 0.38		$ 0.0590	$ 0.0611
2011 Plan [Member] | Options [Member] | Minimum [Member]
Fair value assumptions
Expected volatility	60.30%
Risk-free interest rate	0.47%
Exercise price	$ 0.01
2011 Plan [Member] | Options [Member] | Maximum [Member]
Fair value assumptions
Expected volatility	65.10%
Risk-free interest rate	0.88%
Exercise price	$ 0.20
2011 Plan [Member] | Board of Directors and Executives [Member] | Ordinary shares [Member]
Other disclosures
Shares transferred by main shareholder		30,372,540
Fair value		$ 0.138
Share-based compensation		$ 4,190,449

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net loss attributable to Wowo Limited	$ (93,570,188)	$ (43,856,347)	$ (32,172,344)
Continuing operations	(104,646,123)	(4,323,249)	(73,089)
Discontinued operations	11,075,935	(39,546,576)	(32,099,255)
Net loss attributable to ordinary shareholders for computing basic net loss per ordinary shares	(95,935,539)	(84,670,856)	(69,814,192)
Continuing operations	(104,646,123)	(8,346,641)	(158,604)
Discontinued operations	$ 8,710,584	$ (76,324,215)	$ (69,655,588)
Denominator:
Weighted average ordinary shares outstanding used in computing basic net loss per shares	1,001,754,524	303,886,640	303,886,640
Weighted average ordinary shares outstanding used in computing diluted net loss per ordinary shares	1,001,754,524	303,886,640	303,886,640
Net loss per ordinary shares
Basic	$ (0.09)	$ (0.28)	$ (0.23)
Diluted	(0.09)	(0.28)	(0.23)
Net loss per ordinary share from continuing operations
Basic	(0.10)	(0.03)	0
Diluted	(0.10)	(0.03)	0
Net (loss)/income per share from discontinued operations
Basic	0.01	(0.25)	(0.23)
Diluted	$ 0.01	$ (0.25)	$ (0.23)
Basic
Continuing operations	1,001,754,524	303,886,640	303,886,640
Discontinued operations	1,001,754,524	303,886,640	303,886,640
Diluted
Continuing operations	1,001,754,524	303,886,640	303,886,640
Discontinued operations	1,043,473,265	303,886,640	303,886,640
Options [Member] | Continuing operations [Member]
Weighted average shares used in calculating net loss per
Anti-dilutive ordinary shares excluded from the calculation of diluted net income per share	59,943,440	39,249,022	34,681,354
Options [Member] | Discontinued operations [Member]
Weighted average shares used in calculating net loss per
Anti-dilutive ordinary shares excluded from the calculation of diluted net income per share	18,224,699	39,249,022	34,681,354
Series A-1 Preferred Shares [Member]
Numerator:
Accretion for convertible redeemable preferred shares	$ (442,409)	$ (1,445,125)	$ (1,199,007)
Net income attributable to Preferred Shareholders for computing basic net income per Preferred Shares	$ 442,409	$ 1,445,125	$ 1,199,007
Denominator:
Weighted average ordinary shares outstanding used in computing basic net loss per shares	3,242,986	12,202,988	12,202,988
Net loss per ordinary shares
Basic	$ 0.14	$ 0.12	$ 0.10
Basic
Continuing operations	3,242,986	12,202,988	12,202,988
Weighted average shares used in calculating net loss per
Weighted average shares used in calculating net loss per preferred shares	3,242,986	12,202,988	12,202,988
Series A-2 Preferred Shares [Member]
Numerator:
Accretion for convertible redeemable preferred shares	$ (1,202,748)	$ (36,947,001)	$ (34,336,421)
Net income attributable to Preferred Shareholders for computing basic net income per Preferred Shares	$ 1,202,748	$ 36,947,001	$ 34,336,421
Denominator:
Weighted average ordinary shares outstanding used in computing basic net loss per shares	32,429,858	122,029,877	122,029,877
Net loss per ordinary shares
Basic	$ 0.04	$ 0.30	$ 0.28
Basic
Continuing operations	32,429,858	122,029,877	122,029,877
Weighted average shares used in calculating net loss per
Weighted average shares used in calculating net loss per preferred shares	32,429,858	122,029,877	122,029,877
Series B Preferred Shares [Member]
Numerator:
Accretion for convertible redeemable preferred shares	$ (720,194)	$ (2,422,383)	$ (2,106,420)
Net income attributable to Preferred Shareholders for computing basic net income per Preferred Shares	$ 720,194	$ 2,422,383	$ 2,106,420
Denominator:
Weighted average ordinary shares outstanding used in computing basic net loss per shares	8,107,465	30,507,471	30,507,471
Net loss per ordinary shares
Basic	$ 0.09	$ 0.08	$ 0.07
Basic
Continuing operations	8,107,465	30,507,471	30,507,471
Weighted average shares used in calculating net loss per
Weighted average shares used in calculating net loss per preferred shares	8,107,465	30,507,471	30,507,471

RELATED PARTY BALANCES AND TR73

RELATED PARTY BALANCES AND TRANSACTIONS - (Details) - USD ($)		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014
Related Party Transaction [Line Items]
Amounts due from related parties		$ 806,423
Amounts due to related parties		319,767		$ 61,965,277
Rental expense to related parties		335,249
Revenue from related parties		541,758
Noodles Dao (HK) Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	74,187
Hong Kong Sunward Fishery Restaurant Management Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	70,962
Nanjing Xinzijing Sunward Fishery Restaurant Co., Ltd [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	29,469
Revenue from related parties		38,179
Nanjing Jiangdong Sunward Fishery Restaurant Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	29,831
Revenue from related parties		32,726
Nanjing Yongji Sunward Fishery Restaurant Co., Ltd [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	13,015
Revenue from related parties		17,573
Ningbo Jingzhou Sunward Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	149,033
Revenue from related parties		58,560
Zhejiang Sunward Fishery Restaurant Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	128,845
Shanghai MIN Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	48,643
Rental expense to related parties		335,249
Shanghai Xiao Nan Guo Hai Zhi Yuan Restaurant Management Co.,Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	260,623
Revenue from related parties		393,147
WM Ming Hotel [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	[1]	1,815
Revenue from related parties		$ 1,573
Dallsfield [Member]
Related Party Transaction [Line Items]
Amounts due to related parties				250,000	[2]
Rizhao Yinxingshu Equity Investment Fund, L.P [Member]
Related Party Transaction [Line Items]
Amounts due from related parties				32,717,713	[2]
Beijing Shiletao Ecommerce Co., Ltd [Member]
Related Party Transaction [Line Items]
Amounts due from related parties				969,927	[2]
Mr. Xu [Member]
Related Party Transaction [Line Items]
Amounts due from related parties				$ 28,027,637	[2]
Shanghai MIN Hongshi Trading Co., Ltd. [Member]
Related Party Transaction [Line Items]
Amounts due to related parties		$ 319,767	[3]
[1]	The amounts represents the receivables from related parties who purchase product on JMU online platform.
[2]	The amounts represents the funds provided by Mr. Xu, to support the working capital for the Group's daily operations, which was included in the indebtedness from Mr. Xu and had been converted into ordinary shares immediately after the completion of the IPO.
[3]	The amounts represents the payables to related parties who sell products on JMU online platform.

COMMITMENTS AND CONTINGENCIES74

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES [Abstract]
Rental expenses under operating leases	$ 985,214
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,016	1,483,747
2,017	1,432,141
2,018	1,436,065
2,019	1,432,141
2,020	1,432,141
2021 and after	13,689,704
Total	$ 20,905,939
PRC individual income tax rate applied on capital gain	20.00%

MAINLAND CHINA CONTRIBUTION P75

MAINLAND CHINA CONTRIBUTION PLAN (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating expense [Member]
Defined Contribution Plan Disclosure [Line Items]
Total provisions for employee benefits	$ 902,418

STATUTORY RESERVES AND RESTRI76

STATUTORY RESERVES AND RESTRICTED NET ASSETS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
STATUTORY RESERVES AND RESTRICTED NET ASSETS [Line Item]
Required minimum percentage of annual appropriations to general reserve fund	10.00%
Statutory threshold percentage of the reserve fund to the registered capital of the respective company, above which the appropriation is not required	50.00%
Appropriation made to the enterprise expansion reserve and the staff welfare and bonus reserve
Restricted net assets	$ 21,598,935	$ 26,017,742
VIEs [Member]
STATUTORY RESERVES AND RESTRICTED NET ASSETS [Line Item]
Restricted net assets	$ 1,599,100	$ 4,324,871

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	12 Months Ended
	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
SEGMENT INFORMATION [Line Items]
Number of operating segments | segment	1
Net revenue	$ 11,477,552
Online direct sales [Member]
SEGMENT INFORMATION [Line Items]
Net revenue	$ 11,477,552
Online platform services [Member]
SEGMENT INFORMATION [Line Items]
Net revenue

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent event [Member] - CCLG [Member] $ in Millions	Jan. 31, 2016USD ($)
Subsequent Event [Line Items]
Total consideration	$ 3.1
Equity interests (as a percent)	10.00%