China's Meituan Is Said in Talks to Raise Up to $5 Billion
- Funding round would likely value the compay at $25 bln-$30 bln
- Company needs to build warchest to compete with Alibaba
Meituan food delivery couriers in Shenyang city, northeast China's Liaoning province.
Photographer: Imaginechina via AP PhotoThis article is for subscribers only.
Meituan Dianping, China’s largest group-buying and restaurant review service, is in talks to raise $3 billion to $5 billion, people with direct knowledge of the matter said.
The funding round is likely to value the company at $25 billion to $30 billion, the people said, asking not to be identified as the discussions are private. Tencent Holdings Ltd., already a backer, plans to participate in this round, the people said.