$70 Billion China Food Delivery Giant Meituan to Buyback $1 Billion of Shares Starting from 1st December 2023
2nd December 2023 | Hong Kong
China food delivery giant Meituan (1/12/23: $70 billion market capitalization) has announced to buyback $1 billion of shares starting from 1st December 2023. Earlier in June 2023, Meituan acquired artificial intelligence startup Beijing Lightyear Technology for $233.7 million, launched by Meituan co-founder Wang Huiwen in 2023 February with $50 million personal investment and resigning from company days before acquisition announcement due to personal health issues. Current Chairman & CEO of Meituan is Wang Xing, who is also the co-founder of Meituan. The Beijing Lightyear Technology acquisition includes $233.7 million in cash, 366.9 million yuan ($50.66 million) debt, and payment of $28 million previous investor HongShan (formerly known as Sequoia Capital China Growth Fund VII).
“ $70 Billion China Food Delivery Giant Meituan to Buyback $1 Billion of Shares Starting from 1st December 2023 “
$97 Billion China Food Delivery Giant Meituan Acquires Artificial Intelligence Startup Beijing Lightyear Technology for $233.7 Million, Launched by Meituan Co-Founder Wang Huiwen in 2023 February with $50 Million Personal Investment & Resigned from Company Days Before Acquisition Announcement Due to Personal Health Issues
30th June 2023 – China food delivery giant Meituan ($97 billion market capitalization) has acquired artificial intelligence startup Beijing Lightyear Technology for $233.7 million, launched by Meituan co-founder Wang Huiwen in 2023 February with $50 million personal investment and resigning from company days before acquisition announcement due to personal health issues. Current Chairman & CEO of Meituan is Wang Xing, who is also the co-founder of Meituan. The Beijing Lightyear Technology acquisition includes $233.7 million in cash, 366.9 million yuan ($50.66 million) debt, and payment of $28 million previous investor HongShan (formerly known as Sequoia Capital China Growth Fund VII).
$97 Billion China Food Delivery Giant Meituan Acquires Artificial Intelligence Startup Beijing Lightyear Technology for $233.7 Million
About Meituan
Meituan (HKG: 3690) (the “Company”) is a leading technology-driven retail company in China. With the mission of “We help people eat better, live better,” the Company uses technology to connect consumers and merchants. Service offerings on its platform address people’s daily needs for food and retail goods and extend further to broad lifestyle and travel services. Meituan is the world’s leading on-demand food delivery service provider and China’s leading e-commerce platform for in-store dining services. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China’s leading online marketplace for services, Dianping, China’s leading online destination for discovering local services, Meituan Waimai for on-demand delivery services, and Meituan Bikes for bike-sharing services. The Company operates in over 2,800 cities and counties in China.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
