Chinese online service platform Meituan-Dianping is set to go public in Hong Kong on September 20. According to 36Kr, Meituan will be worth anywhere between USD 40-60 billion.
The company will be launching its pre-deal investor education document on August 27 and conduct a roadshow on September 3, before finalising the initial stock price on September 13.
According to Wang Xing, the CEO of Meituan, the company wants to help people ‘eat better, live better.’ Wang believes that Meituan is a company driven by strong social responsibilities and that the mission was to facilitate Chinese consumers with a better life and entertainment services.
Over the past 15 years, Meituan has developed from being a basic business directory style website to a full-fledged application that covers every part of one’s life. Not only does Meituan helps customers find restaurants of their choices, but also helps customers in booking flights, reserving movie tickets, and ordering food takeouts.
Meituan food delivery is one of the largest food-takeout platform in the world in terms of the number of users and number of businesses on board. In 2017 alone, there were 5.8 billion transactions on the platform with a total worth of 357 billion Chinese Yuan (USD 52 billion). In addition, Meituan has more than 310 million registered active users and 4.4 million businesses across China.
Comparing to Toutiao and Didi, Meituan has nurtured a rather mature and sustainable business model for the business to develop and grow in the future.