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Meituan CEO Who Beat Jack Ma Gets $10 Billion for Next Fight

  • Delivery giant is taking on incumbents in areas like groceries
  • Founder Wang Xing has set no limits on his ambitions
Wang Xing

Wang Xing

Photographer: Anthony Kwan/Bloomberg
Updated on

The competition between Wang Xing’s Meituan and fellow tech billionaire Jack Ma’s Alibaba Group Holding Ltd. is turning into one of the great rivalries in Chinese business.

While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down.