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.