China’s food delivery giant Meituan plans to hire 60,000 execs

Photo: Meituan

Chinese food delivery giant Meituan said it aimed to hire 60,000 new employees in 2021 as the company expands into new areas of businesses such as group community buying.

Meituan’s plan includes recruiting engineers, customer managers, and logistics professionals, the company said in a statement on Wednesday. The company, whose services also include hotel booking and bike sharing, had a total of around 69,000 employees at the end of 2020, according to its annual report.

The Beijing-based company’s aggressive hiring plan comes amid regulators’ tightened scrutiny on the platform companies in the country.

China’s market watchdog announced an antitrust probe into Meituan in April, focusing on a practice whereby a company forces vendors to use its platform exclusively.

Meituan, which has in total reported five profitable quarters since it made its stock market debut in 2018, reported two consecutive quarterly losses for the quarters ended December and March, weighed down by its expansion into the community group-buying business that relies heavily on subsidies.

In April, Meituan raised $10 billion in a stock and convertible bonds sale, and said at the time it planed to use its new warchest to invest in autonomous delivery vehicles, delivery drones and other cutting-edge technology.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.