Meituan.Com Seeks $1B In Series E Financing Round


Beijing-based Chinese group discount platform Meituan.com is in the process of raising over US$1 billion in its series E financing round with a valuation that could exceed US$15 billion, according to media reports.

The fundraising plans are at an early stage, and the final results may still change.

In January, Meituan.com just received US$700 million series D round of financing with a valuation of US$7 billion. Hillhouse Capital and Fidelity Management & Research Co. reportedly participated in that deal.

Founded in 2010, Meituan.com received US$12 million series A financing from Sequoia Capital in 2010. It received US$50 million series B from Alibaba and Sequoia in 2011.

In May 2014, the company raised US$300 million in series C financing led by global growth private equity firm General Atlantic.

In 2014, Meituan.com’s total gross merchandise volume (GMV) reached RMB46 billion (US$7.41 billion), and users totaled 200 million.

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