trending Market Intelligence /marketintelligence/en/news-insights/trending/lTFeboDGyL5PhfBu7ZonuA2 content esgSubNav
In This List

Report: Tencent-backed Meituan Dianping plans to raise up to $5B

Podcast

Next in Tech | Episode 101 Data on Datacenters

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share


Report: Tencent-backed Meituan Dianping plans to raise up to $5B

Chinese food delivery and restaurant review company Meituan Dianping is planning to raise $3 billion to $5 billion in fresh capital, Bloomberg News reported Aug. 2, citing people with direct knowledge of the matter.

Following the funding round, the Tencent Holdings Ltd.-backed company will likely be valued at $25 billion to $30 billion. Tencent will participate in the funding round, according to the report.

Formed in 2015 via the merger of Meituan.com and Dianping.com, the internet company also provides online purchase of groceries and movie tickets. It will use funds to compete with rival apps backed by Alibaba Group Holding Ltd.