The do-it-all app that can make YOU money
Sanebull on This app can handle everything… it’s called Meituan, and you can use it to make lunch reservations, buy movie tickets, book vacations, and call for car rides. Sounds good, right? If you haven’t heard about this app, it is because it is brought to you by Chinese tech company Meituan Dianping. However, with 300 million users plenty of people have already heard…
They killed it in the IPO… with shares of the company ending up 5% on the day. The IPO along with the one-day gains give the stock a market value of $50 billion. The company earned $4.2 billion from the IPO itself which was at the top of its target price.
People love their phones… and this app is capitalizing on that fact. The company was formed in 2015 when Meituan and Dianping merged – the two companies are China’s equivalent of Groupon and Yelp, respectively. The company’s biggest investors include Google and Tencent. Meituan Dianping will be using their windfall to improve tech, develop new offerings, and invest in the future. And with $4.2B they should be able to do just that…
