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  • May 17 02:45
    Meituan-Dianping Says Reaches Break-Even, Daily Orders Top 18 Million With 240 Million Active Users

    Group buying and take-out dining giant Meituan-Dianping said it is operating on a break-even basis, as it shot down rumors that it was having trouble raising cash.
    The company said it currently has more than $3 billion in cash, and that it hasn’t launched a new fund-raising round.

    It added that its services are now handling about 18 million orders per day, including 11 million for its takeout dining service. It said it has 240 million annual active users.

    The company released the information after the Asia Pacific Daily cited insiders saying Meituan-Dianping was in the midst of planning a new fund-raising round, and that longtime investor Tencent would not take part.

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