Tim Culpan, Columnist

Meituan Should Carve Up an Albatross to Create a Unicorn

There’s a fine business hiding inside the Chinese food-delivery giant that’s waiting to be set free.

November 23, 2018 at 12:28 AM UTC

Tim Culpan is a former Bloomberg Opinion columnist covering technology in Asia. Previously, he was a technology reporter for Bloomberg News.

Ride-hailing and bike rental are a drag on China's food-delivery giant.
Photographer: Justin Chin/Bloomberg

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It’s only been two months since Meituan Dianping’s IPO, but it’s time to go back to the bankers with another task: a spinoff.

In the first earnings release since September’s Hong Kong trading debut, Meituan delivered a set of operating figures that indicate it’s finding economies of scale in its core food delivery business.