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 swung to a loss in the fourth quarter
  • Both revenue and profit were up in 2020 even as consumer spending shifted online because of the Covid-19 pandemic

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
READ FULL ARTICLE