“A quasi-monopoly built on the stomachs of 1.4 billion people.”
This is an interesting description of the Chinese e-commerce company Meituan-Dianping. Historically, most of their business was food delivery, but now they’ve evolved into a universal platform, expanding across all fronts of O2O (online-to-offline).
Meituan doesn’t get much press coverage, with only 100,000 media mentions (for comparison, Amazon has 44 million, eBay 6.2 million, Alibaba 3.5 million, and Uber 21 million). But quietly, they handle 10 million orders every day in China. By the way, they’ve grown from 5 to 10 million orders in just six months.
Recently, they secured $4 billion in investments and are valued at $30 billion.
An interesting time.
