Meituan: Food + Platform

The Chinese food delivery powerhouse and its ongoing evolution into a SuperApp

My name is Mikal — I’m an early-stage tech investor and I was born in Asia, grew up in Africa and now live in the US. Every week I break down a fast-growing business in an emerging market in my newsletter Emergent to understand its product, market and growth strategy.

This week I’m breaking down Meituan.

Meituan is a Chinese “SuperApp,” the leader in the food delivery segment and China’s third most valuable internet company ($250 billlion market capitalization). Meituan is a pioneer in the food delivery industry globally and remains the most innovative company in the sector. Its expansion from food delivery into other higher-value categories is a model being emulated worldwide by the likes of DoorDash, Getir and Deliveroo. Today, Meituan offers everything from in-person booking for restaurants to food delivery and airline ticket purchases.

Founded in 2010, Meituan has grown at extraordinary speed in the last decade:

• It generates annual revenues of almost $14 billion today
• Serves an impressive 500 million customers across China