Food delivery couriers for Meituan Dianping stand with insulated bags during a morning briefing on a street in Shanghai, on November 29, 2020. Photo: Bloomberg Food delivery couriers for Meituan Dianping stand with insulated bags during a morning briefing on a street in Shanghai, on November 29, 2020. Photo: Bloomberg
Food delivery couriers for Meituan Dianping stand with insulated bags during a morning briefing on a street in Shanghai, on November 29, 2020. Photo: Bloomberg
Meituan

Food delivery giant Meituan eats US$300 million in losses to chase ‘best opportunity in five years’ as community group buying heats up

  • Fierce competition in China’s community group buying market took a toll as Meituan’s profits plunged 250 per cent for the quarter
  • Revenue and profit were up for all of 2020, though, as consumer spending shifted online amid the Covid-19 pandemic

Topic |   Meituan
Food delivery couriers for Meituan Dianping stand with insulated bags during a morning briefing on a street in Shanghai, on November 29, 2020. Photo: Bloomberg Food delivery couriers for Meituan Dianping stand with insulated bags during a morning briefing on a street in Shanghai, on November 29, 2020. Photo: Bloomberg
Food delivery couriers for Meituan Dianping stand with insulated bags during a morning briefing on a street in Shanghai, on November 29, 2020. Photo: Bloomberg
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