The company received initial funding of $12 million from Sequoia Capital. [7] It has over 290 million monthly active users and 600 million registered users as of April 2018. [15] On 19 January 2016, Meituan Dianping announced that it has raised more than $3.3 billion. In addition to supporting the new of Weying Technology and long-term partner of Meituan-Dianping. stream from production companies to cinemas. product upgrades through technology innovation and empowering local businesses significant role in this strategic cooperation and looks forward to supporting The combined Meituan-Dianping and Tencent Further Strengthen Partnership Through Strategic Cooperation Between Ma. Commenting on the cooperation, Mr. Xing Wang, Zhihao Zheng, CEO of Maoyan, will serve as CEO. The company operates different apps and websites for different services. Meituan offers a one-stop “travel life” service platform for users in order to achieve coverage of full consumption in different places. China; Lifestyle / Entertainment (previously "In-Store Others"), the online categories. will enter all of its businesses into the combined company, including its ", Martin Lau, President of Tencent, stated "The new company created from the Earlier estimates show that there were 2000 voucher selling companies in the mid 2000s and due to intense competition in the industry only a few have emerged as dominant players. related assets will also go into the combined company. travel, and transportation. movie and show ticketing services, film investment and promotion, and other [10] In 2014 it accounted for 60% of the market share of deal-of-the-day group-buying websites in China. including movies and shows, providing all around support for the entire film partnership between Meituan-Dianping and Tencent, a major initial shareholder Y: I think Wang Xing is officially kicking butt. continue to hold the majority stake of the combined company. In May 2014, global growth equity firm General Atlantic led a $300 million series C funding round with two other investors. more than three million annual active local merchants across the whole China, Earlier this year, a report showed that in 2017, Meituan had market share of 54%, followed by ele.me of 30% and Baidu trailing at 14%. By May 2014, the company had 5,000 employees. but also build up a complete chain involving many entertainment-related areas by boosting industry efficiency through digital, internet and mobile BEIJING, Sept. 25, 2017 /PRNewswire/ -- Meituan-Dianping, China's largest daily life services platform aiming to improve overall way of life for Under its "Eat Better, Live Better" mission, the Company offers a one-stop [16] On September 20, 2018 Meituan Dianping debuted on the Hong Kong stock exchange at an IPO price of HK$69 per share. You can also access Meituan’s food delivery service via Dianping – you can find it at the top-right section of the homepage. service-focused e-commerce platform, announced that one of its key investments Click here to download Meituan (美团) on your phone. Meituan-Dianping Study Shows Technology and On-Demand Delivery Are Reshaping China's Dining Industry. greatly strengthening our ability to better serve the needs of customers in [10], Chinese group buying and food delivery website, Liu, Yi, and Juliana Sutanto. With its massive user base, it completed 5.8bn transactions in 2017. About 35 million people use the service everyday. "Buyers' purchasing time and herd behavior on deal-of-the-day group buying websites. Therefore, now there are 70 million users of hotel and travel business in total. [17], The company was renamed from "Meituan Dianping" to Meituan with effect from September 30, 2020. solutions. Meituan-Dianping is China’s largest one-stop online platform for goods and services on-demand, from dining to mobility. market leader across multiple verticals, including weddings, beauty, mom / connecting more than 260 million young annual active buying consumers with Delivery, the world's largest and most efficient delivery platform; and Travel industry services. About Meituan-Dianping. [8], Meituan.com is a group-discount website which sells vouchers from merchants for deals, subject to a minimum number of buyers who demand a discount, from which Meituan generates commissions. 2017-07-10. It has also developed a strong business in music, company through platforms like WeChat and QQ, Tencent will also partner with Meituan accounts for the largest market share by revenue, followed by Lashou, 55tuan and 58tuan [4][9], Piloted in Shanghai and Beijing, Meituan had rapidly expanded to second-tier and third-tier cities, totalling 200 million users in 2015. As China's leading e-commerce platform for services, Meituan operates well-known mobile apps in China, including Meituan, Dianping, Meituan Waimai, Mobike and others. Since its formation in the 2015 merger of Meituan and Dianping, its range of services has ballooned, as has its valuation (to the world’s third biggest “ Weying's movie ticketing business, show business and other ", "ANNOUNCEMENT OF THE RESULTS FOR THE YEAR ENDED DECEMBER 31, 2019", "Meituan Dianping - Company Profile and News", "Alibaba-Backed Buying Site Meituan Considering U.S. IPO", "China's Meituan Agrees to $15 Billion Dianping Merger", Chinese local review site Dianping: A lot more than a "Yelp for China", "Meituan-Dianping Becomes the First Worldwide On-Demand Delivery Platform to Process More Than 10 Million Orders and Deliveries Per Day", "Meituan-Dianping: Finally, A Chinese Tech IPO With Some Value", "Meituan to End 2011 as China's No.1 Group Buying Site", "Meituan.com Chinese Group Buying Platform Reached CNY46 Billion For 2014", "Meituan, China's Leading Group Deals Site, Raises $700M At $7B Valuation", "General Atlantic Leads $300M Series C For China's Meituan.Com", "Meituan and Dianping, China's Top Group Deals Sites, Merge In Multi-Billion Dollar Deal", "Chinese online group Meituan Dianping raises $3.3bn", "China's app for everything Meituan Dianping jumps in IPO", Meituan Dianping Formally Renamed To Meituan, "Meituan-Dianping Taps into B&B Market With the Launch of Its Hazelnut B&B App", "Meituan-Dianping Hotel & Travel Business Group – ITB China", "Meituan.com Receives $700M Series D Financing", https://en.wikipedia.org/w/index.php?title=Meituan-Dianping&oldid=986050383, Pages with non-numeric formatnum arguments, Articles with dead external links from March 2020, Articles with permanently dead external links, Short description is different from Wikidata, Articles containing potentially dated statements from August 2018, All articles containing potentially dated statements, Articles containing Chinese-language text, Creative Commons Attribution-ShareAlike License, This page was last edited on 29 October 2020, at 14:14. single day. Meituan-Dianping (Chinese: 美团网; pinyin: Mĕituánwǎng) is a Chinese shopping platform for locally found consumer products and retail services including entertainment, dining, delivery, travel and other services. Funding to Strengthen Company's Core Business Groups and Enable Continued Investment in AI-based Technology and Innovation to Lead Services Industry E-Commerce Transformation BEIJING, Oct. 19, 2017 /PRNewswire/ -- Meituan-Dianping, China's largest … Meituan-Dianping leverages its platform strategy to drive constant