A Mega Merger between Two of the Largest Chinese Group-discount Sites is on the Cards
Yesterday, reports that originated from China hinted that the fast emerging O2O industry is all set to witness a $15billion mega merger between the two largest discount platforms in the industry.
Meituan, backed by Alibaba-backed and Dianping supported by Tencent are the two biggest platforms in the industry. A merger between the two will symbolize a significant development in the industry.
This merger is expected to bring a second round of consolidations in the industry that started with restaurant and hotel directory apps. A wide range of platforms combined into several leading firms like Meituan and Dianping.
Along with the embracing of O2O and its huge growth, the industry moved ahead rapidly in the last one year and that has lead to a second round of consolidation efforts.
This round of mergers will appear quite familiar to people following the tech industry in China. Kuaidi and Didi merged in February, when both the firms were competing in the market offering large subsidies, both to the drivers and passengers.
Now, Meituan and Dianping are providing a range of localized services in China, which includes restaurant discounts, movie bookings, reviews as well as food delivery services. It's become very popular in the country and is used widely.
New Zealand News
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