Chinese Internet Rivals Merge, A alliance amid group-buying and restaurant-review websites Meituan and Dianping, appear on Thursday, makes the two antecedent rivals the third Internet duo this year to accompany forces.
The new entity, to be co-chaired by Meituan CEO Wang Xing and Dianping CEO Zhang Tao, could be account added than 15 billion U.S. dollars.
Investment coffer China Renaissance has been called banking adviser for the merger.
The amalgamation will acceptable see the antecedent rivals accumulation assets to yield on their competitors, such as Nuomi, run by seek engine Baidu, and startup ele.me.
In February, auto acclamation firms Didi and Kuaidi abutting armament and the new close is now admired at 16.5 billion dollars.
In April, 58.com, a Craigslist-style classified account alloyed with battling Ganji. Investors accept been blame for key rivals to absorb due to the ambagious costs of business campaigns.
Internet giants Alibaba and Tencent authority stakes in Meituan and Dianping, respectively.
The new entity, to be co-chaired by Meituan CEO Wang Xing and Dianping CEO Zhang Tao, could be account added than 15 billion U.S. dollars.
Investment coffer China Renaissance has been called banking adviser for the merger.
The amalgamation will acceptable see the antecedent rivals accumulation assets to yield on their competitors, such as Nuomi, run by seek engine Baidu, and startup ele.me.
In February, auto acclamation firms Didi and Kuaidi abutting armament and the new close is now admired at 16.5 billion dollars.
In April, 58.com, a Craigslist-style classified account alloyed with battling Ganji. Investors accept been blame for key rivals to absorb due to the ambagious costs of business campaigns.
Internet giants Alibaba and Tencent authority stakes in Meituan and Dianping, respectively.
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