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It is also about the geography of China, because you have certain coastal cities are very wealthy, to the level of the US cities, but you have a lot of cities inland that are very poor. The Meituan site offers deals of the day by selling vouchers on local services and entertainment. By May 2014, the company had 5,000 employees. It’s just 1.5 million is not a lot of money, so I don’t know how it’s going to grow up. Meituan-Dianping is a Chinese group buying website for locally found food delivery services, consumer products and retail services. Meituan.com and Dianping Holdings said on Thursday they are combining to create China’s dominant player in services such as finding deals at local restaurants and booking cinema tickets through smartphones as well as group-buying of coupons and accessing ratings, similar to those offered by Groupon Inc and Yelp Inc.
Now people are talking about TMD, or Toutiao, Meituan and Didi. 15 Mrd. Probably we should have done it earlier, for both of us.So in a way, if it is a country fully free, it is actually not going to work.Another thing is that the more globalized the economy of the country, the bigger the government, and there is a rationale for it, at least to him. I don’t know if you guys follow blockchain.So I think in those two years we burned a lot of capital, did a lot of dilutions, but you also miss a lot of opportunities.
One of the most useful features at Dianping is about recommended dishes.So when my previous firm, as part of the team we asked you this question, it was interesting to see how you had a more nuanced answer.
How should startups in China approach strategic investments from giants like Tencent and Alibaba?When I go back to China, Dianping is one of my most frequently-used apps. dianping.com (大众点评网) hosts consumer reviews of restaurants, similar to Yelp and TripAdvisor, and also offers group buying similar to Groupon. It wasn’t just, you are not about immediately going to a new, hot category. In 2015, Meituan merged with Dianping to become "Meituan-Dianping…
The investment bank was also adviser to both Didi and Kuaidi in their deal. So that’s something I would consider.But I agree with you, that these guys are not going to give you money just because they have money.
Not just tell you it’s a four-star restaurant. They will give you money if you fit what they need you to do and the ridesharing war, both Alipay and WeChat pay need to have more users who will use their mobile payment solution. Actually, I only go to places with over 4 stars on Dianping.Hans, you have known Tao for a long time. And that’s why Didi was able to get money from Tencent and Kuaidi got money from Ali, because both strategics want to grow their mobile payment customer list through these two ridesharing apps.And another thing I think is the capital, as I mentioned. Tencent and Ali are deploy capital in this way to build up this ecosystem of the startups.So I think beyond the capital, beyond strategic fit, just improving your internal operation, whether it is on technology or on product, there are certain benefits of learning from people who have skill before.
It’s one of China’s newly minted tech giants, other than the BAT. You don’t have very strong intellectual property rights.So anyway, whenever some good ideas come up, people just copy.
So you find a component like a Didi, you need a lot of confidence to do that. The video wars, and also online, the Groupon was the first was war that started offline, and then later you have Didi, now you have the bike sharing and delivery and all this. And other things are very important in terms of how successful the startup will be in China. So it is not always right, but it gives you some thoughts, especially from the liberal part.This is a content initiative by GGV Capital providing insight, stories and thought pieces on the people shaping the lives of the next billion Internet users.This site is protected by reCAPTCHA and the Google Am 20. So I wouldn’t say the traffic. It’s a combination. China Renaissance served as exclusive financial adviser to both Meituan and Dianping. Speculation of a merger between Dianping and Meituan had swirled in early 2015, as Dianping finished raising more than $800 million in capital at a valuation of $4 billion. Meituan and Dianping had discussed a potential combination before, but the talks never evolved as the rivals wanted better valuation terms, the source said. Did didn’t have that then, so whoever invested in them will have a chance to build up the mobile payment customer base. That’s one thing.Another thing, I think that’s a local market difference. The US, now you are like a blockchain. How did Tao survive the “thousand-Groupon war” the seized China’s Internet scene in the early 2010s? Then it becomes kind of like tricky psychology even among these Series A, Series B, Series C VCs, they will look at, okay well is Tencent coming at Series C, then I might invest more, because somebody is going to come in.So I think this dynamic is pretty strong, especially nowadays in China, not as much as in the U.S. but you don’t see Google, Facebook, even Apple, there is so much money, but they are not deployed this way. Financial details of the deal were not immediately disclosed, but the merger comes after Didi Dache and Kuaidi Dache, two leading taxi-hailing firms which were also backed separately by Alibaba and Tencent, combined similarly in a share swap worth $6 billion earlier this year.