Besides the three giants in China, there are also some other unique food delivery apps that want to make a difference.
Our highlight of the week: Ex-Meituan executive lands USD 7 M for his insurance startup; DuduBus to take on Didi’s bus service with USD 15 M; and LeEco’s affiliate acquires Le Vision Pictures for USD 1.5 B.
Highlights of tech financing in China this week: Alibaba invests USD 1.25B in food delivery service platform Ele.me and Meituan Dianping likely to have raised USD 2.8 billion with more cash soon to come.
China Internet Plus Holdings Ltd, the new combined entity of Meituan Dianping, is believed to have successfully fundraised and will make an official announcement soon.
Behind the frenzy of mergers in China in 2015, here’s our analysis of how the industry was transformed, key players in the field and also the role of capital in the M&A game.
Facing fierce competition from other online ticket selling sites, Shanghai based Gewara has merged with the parent company behind WeChat’s movie ticket sales outlet.