China’s Meituan Dianping just became the world’s fourth-most valuable startup, reaching a $30 billion valuation that puts it ahead of high-fliers like Airbnb Inc. and Space X.
Never heard of Meituan? You’re not alone. The Beijing-based company, led by Wang Xing, is almost unknown beyond its home country. It delivers food to people’s homes, sells groceries and movie tickets, provides reviews of restaurants, and markets discounts to consumers who buy in groups. It’s a sort of mashup of Groupon, Yelp, Foodpanda and Uber Eats.