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Meituan

ACTIVE
Big TechPlatform companyAI Lab
美团MěituánMeituan Inc.MPNGY3690.HKSankuaiMeituan DianpingMeituan-Dianping美团点评

Chinese local-services giant (food delivery, hotels, Dianping, Mobike) headquartered in Beijing; since 2023 it has been developing its own LongCat model family and autonomous delivery drones and vehicles.

Founded2010China
HQBeijingChina
Total funding$18492000B6 · 2010–2021
ValuationMeituan's market cap on HKEX fluctuates in the range of ~$100–200B USD (2024-2026 market capitalisation); at the 2021 peak it exceeded $440B before a regulatory crash.🦄
www.meituan.comLinkedInXGitHubCrunchbaseWikipediaYouTube
01 · About

Meituan

Founded 2010 · Beijing, China

Meituan (美团, Měituán — 'beautiful group') is a Chinese local-services technology giant headquartered in Beijing, founded in May 2010 by Wang Xing. Originally a Groupon clone for the Chinese market, today it is China's largest food delivery platform (>65% market share, Ele.me a distant second at <30%), the country's largest restaurant-reviews platform (following the Dianping merger in October 2015), and a dominant player in hotels, movie tickets, instant retail, ride-hailing and bike-sharing (Mobike acquired in April 2018 for $2.7B). The company went public on the Hong Kong Stock Exchange on September 20, 2018 (3690.HK) at a debut price of HK$69 and is a Hang Seng Index component. In September 2020 it renamed from 'Meituan Dianping' back to just 'Meituan'. By the end of 2024 it had over 770M annual transacting users and 14.5M annual active merchants on its platform, with 108,900 employees. In 2023 it entered the AI sector by acquiring the Light Year startup for $281M; in September 2025 it released its first open-source LLM in the LongCat family (LongCat-Flash-Chat), followed by LongCat-Flash-Thinking (CoT), LongCat-Flash-Omni (multimodal), LongCat-Flash-Lite (MoE), LongCat-Video (October 2025), and LongCat-Image 6B (December 2025). LongCat models power the Xiaomei AI agent (September 2025) for food orders and hotel bookings. Meituan also develops autonomous delivery drones (Meituan UAV, 4th generation since 2023, 5 km range, Pony.ai partnership) and self-driving delivery vehicles (since 2021, Li Auto partnership based on the SEV design). International expansion runs under the Keeta brand: Hong Kong (May 2023), Saudi Arabia ($266.6M investment, September 2024, plan to capture 80% of the KSA market by 2025), Qatar (August 2025), UAE (September 2025), Brazil (October 2025).

Founders

  • Wang Xing

    Founder, Chairman & CEO of Meituan (since 2010)

    Chinese entrepreneur, graduate of Tsinghua University and the University of Delaware. Before Meituan he founded Xiaonei (a Chinese Facebook clone, 2005, later sold as Renren) and Fanfou (a Twitter clone, 2007, shut down in 2009 by Chinese censorship). In May 2010 he founded Meituan as a Groupon clone for the Chinese market; he drove the merger with Dianping (2015) and the Hong Kong IPO (2018).

02 · What they do

Domain of activity

7 areas · 6 technologies · 5 industries
What they do7Areas
  • Language models
  • Multimodal models
  • Content generation
  • Autonomous systems
  • Mobile robots
  • Agent systems
  • Process automation
How they do it6Technologies
  • LLM
  • Multimodal AI
  • Generative AI
  • Agentic AI
  • Foundation Models
  • Computer vision
Who for5Industries
  • Software & Technology
  • Logistics & warehousing
  • Retail
  • Transport & mobility
  • Media & entertainment
03 · Geography

Global presence

HQ Beijing · 8 offices · 4 regions
ChinaAsiaMiddle EastSouth America
04 · Metrics

Scale & funding

founded 2010 · Convertible bonds + equity
2010founded
108,900 employees (December 2024).employees
$18.5Btotal funding
Convertible bonds + equitylatest round
maturedevelopment stage
Publiclisted
activestatus
$18.5B
total funding
6 · 2010–2021
Seed (Sequoia)December 2010Sequoia Capital
$12M (Sequoia Capital)
Series CMay 2014General Atlantic
$300M
Series DJanuary 2015—
$700M (valuation $7B)
Late-stage (post-merger)January 2016—Following the merger with Dianping (October 2015).
$3.3B
IPO (HKEX 3690)September 2018Hong Kong Stock ExchangeIPO at a valuation of approximately $52B (market cap at debut).
$4.2B (debut at HK$69 / share)
Convertible bonds + equityApril 2021—Funds earmarked for expansion in community groceries and the development of autonomous drones and delivery vehicles.
$9.98B ($3B convertible + $7B equity)
05 · Portfolio

Products & solutions

1 ai models · 1 model families
06 · Relations

Organizational relations

3 strategic relations · 9 brands

Strategic relations

3
  • Acquisition
    Merger with Dianping (China's leading group buying site) on October 8, 2015 created Meituan-Dianping (a $3.3B funding round closed January 1, 2016). On September 30, 2020 the company reverted to the 'Meituan' name. No ref to Dianping as a separate producer — Dianping exists only as a brand under Meituan.
    2015 →
  • Acquisition
    Acquisition of Mobike (Chinese shared-bike network) for $2.7B in April 2018. No ref to Mobike as a separate producer — Mobike remains a brand under Meituan.
    2018 →
  • Acquisition
    Acquisition of Chinese AI startup Light Year (光年之外, founded by Wang Huiwen — Meituan co-founder) for $281M (June 2023). A clear declaration of Meituan's entry into the LLM race (before the launch of the LongCat family).
    2023 →
07 · Classification

Profile & metadata

4 classification · 8 external links

Classification

External links

08 · Related content

Articles

1 articles
Meituan open-sources LongCat-2.0: 1.6T MoE on Chinese ASICs beats GPT-5.5
News1 July 2026

Meituan open-sources LongCat-2.0: 1.6T MoE on Chinese ASICs beats GPT-5.5

Meituan unveiled LongCat-2.0, a 1.6T-parameter MoE trained without Nvidia GPUs, which spent two months anonymously leading OpenRouter as "Owl Alpha". It scored 59.5 on SWE-bench Pro, above GPT-5.5.