April 23, 2018 11:20 PM ET

Internet Software and Services

Company Overview of China Internet Plus Group

Company Overview

China Internet Plus Group, also known as Meituan-Dianping, develops and operates a platform providing retail and online group buying services. It retails and delivers Chinese food from local restaurants online. The company operates a social commerce website, which offers online group discounts for movie tickets, groceries, food, restaurants, entertainment, and health/fitness sectors. The company was formerly known as Meituan Group, Inc. and changed its name to China Internet Plus Group in December 2015. The company was founded in 2002 and is headquartered in Beijing, China.

Floor 12

Beichentaiyue Plaza

Beiyuan Road

Chaoyang District

Beijing,  100107

China

Founded in 2002

Phone:

86 40 0660 5335

Key Executives for China Internet Plus Group

CEO & Co-Founder
Compensation as of Fiscal Year 2017.

China Internet Plus Group Key Developments

Meituan-Dianping Reportedly Taps Investment Banks For HK Listing

China Internet Plus Group (Meituan-Dianping) has tapped Bank of America Merrill Lynch, The Goldman Sachs Group, Inc. and Morgan Stanley (NYSE:MS) to work on a Hong Kong float that could see it list as early as later in 2018, five people with knowledge of the move said. No formal mandate to investment banks for managing the IPO has been awarded yet, they said. Meituan-Dianping has recently started preparatory work, aided by the three Wall Street banks, for the initial public offering (IPO), the people told Reuters. The IPO proceeds could help boost the firm’s firepower for investments in offline retail and artificial intelligence, said one of the people.

Meituan-Dianping Reports Revenue Results for the Year 2017

Meituan-Dianping reported revenue results for the year 2017. For the period, the company reported total revenue more than doubled from 2016 to USD 5.4 billion, gross merchandise volume (GMV) increased to USD 57.0 billion, and peak online daily orders increased to 27 million, reflecting robust growth across core Business Groups.

China Internet Plus Reported Mulls IPO In US In 2018

China Internet Plus Group is considering an initial public offering in the United States as soon as in 2018, five people with knowledge of the matter told Reuters. A listing could raise at least $3 billion as the company's investors look to capitalise on the current market bull run, which has taken U.S. stocks to a series of all-time highs.

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