Meituan.com is a group-buying website specializing in localized consumer services. It offers a selection of local restaurants, bars, cinemas, KTV, SPA, salon, and other specialty businesses with discounts.
Launched on the 4th of March, 2010, the company raised a total of $50 million from Alibaba. According to China E-commerce Research Center, Meituan’s transaction volume reached $860 million in the first six months of 2013.
Meituan is currently China’s largest group buying site by gross merchandise volume (GMV). It sees 20 million daily mobile users in over 1,000 cities. Meituan originally focused on group discounts, similar to Groupon, but it now also functions as a marketplace for services from local vendors, including hotels, restaurants, and entertainment venues. It is also one of China’s earliest group buying sites.
Founders: Xing Wang