Meituan-Dianping, a massive online services platform in China, has filed to go public in Hong Kong in a move that’s expected to raise billions of dollars.
Meituan-Dianping, a massive online services platform in China, has filed to go public in Hong Kong in a move that’s expected to raise billions of dollars from investors.
Meituan likes to call itself the « Amazon of services. » The Beijing-based startup was formed in 2015 by the merger of two smaller companies viewed as China’s equivalents of Groupon and Yelp.
It has since ballooned into a one-stop shop for online services, a place where people can make lunch reservations, buy movie tickets, book vacations or hail a car ride — all using Meituan’s mobile app.
The company is seeking to raise more than $4 billion at a valuation of $60 billion, according to Reuters. That would be double what Meituan was valued at in October, when an injection of $4 billion from investors like Chinese tech company Tencent ( TCEHY) valued the company at $30 billion.
Meituan didn’t respond to a request for comment on its potential valuation.
