Chinese Meituan Dianping recently became the fourth most expensive start-up in the world. The valuation of its value reached $ 30 billion, which made it more expensive than Airbnb and SpaceX.
The top ten ranking of the most expensive startups looks like this:
About the Beijing company, few people know outside the home market. It delivers food to people, sells food and movie tickets, provides reviews about restaurants and discounts for group purchases. This is a kind of mixture of Groupon, Yelp (Foursquare), Foodpanda and UberEats.
Meituan gained investor confidence due to its dominant position in the market with more than a billion people. The merger of Meituan.com and Dianping.com in 2015 created the company, creating a leading player in online services. In the last round, the startup attracted $ 4 billion from Chinese Tencent Holding, venture capital fund Sequoia Capital and American travel giant Priceline Group.
Meituan Dianping has expanded interests far beyond the original business. In the company’s applications, with a few touches, users can order the delivery of ready meals, food, massage, haircut and manicure home or office. One of the popular services is to order a car wash, while it is parked on the street and the owner at work. Having done the job, the washer will send the photo to confirm the quality. Meituan claims that the company’s applications have 280 million active annual users and 5 million connected businesses.
The category of services that the company provides — online-to-offline or O2O. It may become more popular in China than in the US. China has a lower level of wages, the city is more densely populated. Moreover, the population is much larger. Over the past year, the O2O market grew by 72% to $ 115 billion.
According to the results of the last round, Meituan Dianping’s estimate reached $ 30 billion. According to the assessment, the startup is inferior only to four companies, according to CB Insights: Uber ($ 68 billion), Didi Chuxing ($ 50 billion) and Xiaomi ($ 46 billion). The analysts estimate Airbnb at $ 29.3 billion, SpaceX — $ 21.2 billion.