Meituan, Dianping Merger Creates Chinese Group-Buying Leader

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  • Startups backed by Alibaba, Tencent to pool resources
  • Current CEOs Wang, Zhang to share leadership of new company

Two Chinese startups separately backed by Alibaba Group Holding Ltd. and Tencent Holdings Ltd. will merge to create a dominant player in the nation’s booming market for local services from restaurant deals to movie bookings.

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