Meituan is the world's fourth unicorn and it's planning to launch ride-hailing services in multiple cities in China to compete with industry giant, Didi Chuxing.
Meituan Dianping, one of China’s most valuable private tech firms, is gearing up to challenge the monopoly of ride-hailing giant Didi Chuxing, a move almost certain to trigger a new price war.
Beijing-based Meituan, known as the Chinese Yelp for its online-to-offline business model offering services from restaurant reviews, food delivery, movie ticketing and travel bookings, is expected to launch a national expansion of its ride-hailing business after debuting the service in Nanjing city in December, according to a Meituan employee familiar with the plans who asked not to be named because the discussions are private.
The employee confirmed that the company will soon launch ride-hailing services in at least five cities including Beijing, Shanghai and Xiamen in south China’s Fujian province.
“A warrior’s oath has been sworn at internal meetings,” said the source, referring to a motivational technique to spur employees to battle it out for the ride-hailing market.
Read more here
Join us in Miami from the 20th to the 22nd of June for the Global Online Marketplaces Summit. Our summit theme is INNOVATION and we’ll hear from Global Leaders who are creating the Online Marketplaces of Tomorrow.