trending Market Intelligence /marketintelligence/en/news-insights/trending/lTFeboDGyL5PhfBu7ZonuA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

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

Blog

Charter, DIRECTV and Comcast rank as the top 'RSN-friendly' MVPDs

TMT News & Research: 2020 Recap

Quibi's $2 billion bet on mobile video fizzles out

Cable nets struggle with cash flow declines due to cord cutting, pandemic


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.