O2O platform Meituan-Dianping gets funding from retail giant China Resources

Retail conglomerate China Resources Holdings has made a strategic investment in China’s largest online-to-offline service provider Meituan-Dianping through its startup fund.

The statement cited that they would also collaborate on food delivery businesses by combining China Resources’ offline retail network and Meituan-Dianping’s online platforms.

China Resource’ retail outlets including CR Vanguard, Tesco, Ole, Vango and Pacific Coffee will be integrated with Meituan-Dianping’s online platform.

Meituan-Dianping, which was merged between two separate O2O sites in October last year, secured a $3.3-billion financing round – the largest investment in internet startup to date – led by Tencent Holdings, DST Global and TBP Capital early this year.

It claims to have over 600 million users with 4.3 million offline merchants across China with 11.5 million orders a day on its platform last month.

Also read:

Chinese deals firm Meituan-Dianping raises $3.3b in largest VC round in internet startups

China Resources Beer to raise $1.2b in HK share sale to fund SABMiller deal

China: Alibaba to sell stake in Meituan, focus on Koubei for local services

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.