Tech

Chinabased 270m Series JD Meituan PE

chinabased 270m series jd meituan pe A Chinese startup that operates a group buying service, Meituan.com, has closed a RMB 1.5 billion (US$270 million) Series D round of financing from investors including venture capital firm Sequoia Capital and ecommerce company JD.com, according to China-based tech blog 36Kr. This latest round of funding values the three-year-old startup at around US$1 billion, making it one of the few so-called “Unicorns” in China’s young but booming tech scene.

Meituan.com has become one of the leading players in China’s group buying and online-to-offline (O2O) markets, offering a range of services that include restaurant and movie ticket reservations as well as grocery delivery. The site currently claims to have more than 300 million users, with over 5 million daily transactions. The new funding will be used to help the company expand its presence in China and beyond, as well as invest in technology.

The Series D funding round was led by JD.com and Sequoia Capital, with participation from venture capital firm Matrix Partners China and other unnamed investors. This marks JD’s first investment into an O2O platform and is likely part of the company’s strategy to build a strong foothold in China’s online-to-offline space. JD has been vying for market share with rival Alibaba, which acquired its own group buying service, Koubei, last year. This latest investment from JD serves as an indication that it is serious about competing against its larger rival in the fiercely competitive Chinese market.

About chinabased 270m series jd meituan pe

Meituan.com is a Chinese startup that operates a group buying service, offering customers with services such as restaurant and movie ticket reservations, grocery delivery, and other services. The company has closed a RMB 1.5 billion (US$270 million) Series D round of financing from investors including venture capital firm Sequoia Capital and ecommerce company JD.com, valuing the three-year-old startup at around US$1 billion.

The new funding will be used to help the company expand its presence in China and beyond, as well as invest in technology. This marks JD’s first investment into an O2O platform and is likely part of the company’s strategy to build a strong foothold in China’s online-to-offline space. JD is looking to compete with rival Alibaba, which acquired its own group buying service Koubei last year. This investment serves as an indication that it is serious about competing against its larger rival in the fiercely competitive Chinese market.

Meituan is well-positioned to take advantage of this influx of capital, and with JD’s backing it will be able to continue its growth trajectory. The startup has already achieved a presence in more than 200 cities across China, and with the help of its new investors it can now look to expand even further. With its attractive business model and the help of committed investors, Meituan looks set to remain one of China’s leading startups for some time to come.

​FAQ’s about Chinabased 270m Series JD Meituan PE

Q: What is the purpose of the investment in Meituan?

A: The investment from JD.com is part of their strategy to build a strong foothold in China’s online-to-offline space, and compete with rival Alibaba. The new funding will be used to help the company expand its presence in China and beyond, as well as invest in technology.

Q: How much money was invested in Meituan?

A: The investment was RMB 1.5 billion (US$270 million). This latest round of funding values the three-year-old startup at around US$1 billion.

conclusion

China-based startup Meituan.com has closed a RMB 1.5 billion (US$270 million) Series D round of financing from investors including venture capital firm Sequoia Capital and ecommerce company JD.com, valuing the three-year-old startup at around US$1 billion and making it one of the few so-called unicorns in China’s young but booming tech scene.

The new funding will enable Meituan to expand its presence in China and beyond, as well as invest in technology. With the backing of JD and other investors, the startup is well-positioned to take advantage of this influx of capital and continue its growth trajectory. Meituan looks set to remain one of China’s leading startups for some time to come.

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