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Benzinga

Technology

Anusuya Lahiri

Meituan's Latest Move Rivals Against Likes Of Alibaba, JD

Meituan JD Alibaba Amazon China Douyin Kuaishou Pinduoduo Inc

Meituan (OTC:MPNGY), famed as the "Amazon.com Inc (NASDAQ:AMZN) of services" in China, looked to expand its bouquet of services, tech node reports.
The giant service app, whose services ranged from food delivery to travel booking, expanded to selling physical goods akin to Amazon.
Meituan's latest move fired up rivalry against China's domestic retail giants like Alibaba Group Holding Ltd (NYSE: BABA), JD.com Inc (NASDAQ: JD), and Pinduoduo Inc (NASDAQ: PDD).
Douyin and Kuaishou's debut had already rendered the Chinese e-commerce market more fragmented than when Alibaba, JD, Pinduoduo purely ruled it.
Starting by selling food and beverages, Meituan now looked to become a comprehensive e-commerce platform to win a larger share of China's trillion-dollar online retail market.
Meituan looked to move beyond the daily services (food deliveries) and groceries to tangible goods like consumer electronics, cosmetics, and clothing.

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