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Meituan, the Tencent-backed "one-stop super app," files for IPO in Hong Kong
2018-06-25T03:13:11Z - Catherine Shu / TechCrunch
After months of speculation, Meituan, the largest service booking app in China, confirmed that it has filed for a public offering. Meituan was created after Meituan and Dianping, two competitors in the group deals space, merged in 2015 (it is still formally known was Meituan Dianping). Over the past three years, its revenue grew from 4 billion RMB in 2015, to 13 billion RMB in 2016, before hitting 33.9 billion RMB (about $5.2 billion) in 2017. Meanwhile, its gross transaction value went from 161 billion RMB in 2015 to 237 billion RMB in 2016, then 357 billion RMB (about $54.8 billion) in 2017. Meituan also said that it’s adjusted net loss dropped from 5.9 billion RMB in 2015 to 2.9 billion RMB (about $430 million) in 2017.

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