Meituan

What Meituan does

Meituan is a Chinese retail-and-technology super-app company operating since March 2010 and listed on the Hong Kong Stock Exchange (HKEX: 03690) since September 20, 2018. Its core platform aggregates food delivery (Meituan Waimai), restaurant reviews and curated rankings (Dianping with Must-Eat List and Black Pearl Restaurant Guide), hotel and travel booking, in-store dining and group buying, instant retail (Meituan Shangou, Xiaoxiang Supermarket), healthcare (Meituan Pharmacy, Xiaotuan Health Butler), and beauty services under a single consumer app, complemented by the Keeta brand in Brazil (11 cities). The company serves 770 million annual transaction users on the consumer side and millions of merchants on the supply side, anchored by an estimated 7.45+ million riders earning income on the platform.

Underlying the consumer surface is a proprietary technology stack spanning the LongCat family of foundation models (LongCat-Flash-Thinking-2601, LongCat-Next multimodal, LongCat-Video-Avatar 1.5), the Tabbit AI-native browser, ETA and order-dispatch algorithms, and physical-AI logistics including 65 commercial drone delivery routes (>670,000 orders), L4 autonomous ground vehicles, and the Yellow Bee indoor-outdoor robot. Meituan also operates a merchant SaaS stack (RMS, HMS, Qianniuhua retail, Kemanman beauty CRM, Chucaobao smart hardware) and a venture arm (Long-Z Investments / DragonBall Capital) with strategic stakes in Moonshot AI, TARS, Tianji Robot, X Square Robot, and others.

The business model is primarily a marketplace commission plus tiered delivery service fee structure across millions of merchants, supplemented by advertising (Dianping rankings), B2B SaaS subscriptions (RMS/HMS/Qianniuhua), quick-commerce transaction revenue, healthcare membership (Health Card), B2B supply (Kuailv Jinhuo), and emerging AI and drone services. Q1 2026 revenue was RMB 91 billion (USD 13.4 billion), up 5.6% year-on-year, with operating loss narrowing sharply to RMB 6.5 billion from RMB 16.1 billion in the prior quarter. R&D spend of RMB 7 billion in Q1 2026 (+22% YoY) underpins continued investment in AI, autonomous delivery, and international expansion (Keeta Brazil $1B commitment by 2030, pending $717M Dingdong China acquisition).

Name

Meituan

Legal name

Meituan

Website

https://www.meituan.com/en-US

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Meituan operates China's leading lifestyle super-app, serving 770 million annual transaction users with food delivery, hotel/travel booking, instant retail, in-store dining, and healthcare via Meituan Waimai, Dianping, and Xiaoxiang Supermarket, while expanding internationally through Keeta in Brazil.

Ownership category

akta.pro rank

Product category

Local services super-app platform

NAICS

Convenience Retailers (445131), All Other Specialty Food Retailers (445298)

akta.pro primary industry

Grocery & Convenience Delivery Platforms (BPAMAHAC)

Keywords

• Food delivery platform
• Local services marketplace
• Instant retail delivery
• Hotel travel booking
• Restaurant reviews

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Marketplace Commission (Delivery Service Fee): Meituan charges merchants a technical service fee (commission) and a separate delivery service fee (only when merchants use Meituan delivery). Delivery fee varies based on distance, time period, and order price (tiered/stepped pricing).
2. Food Delivery Service: Core local commerce revenue from Meituan Waimai (food delivery) operations; Q1 2026 core local commerce operating loss was RMB 2 billion, with food delivery slightly profitable in April-May 2026.
3. Quick Commerce / Instant Retail (Meituan Shangou / Xiaoxiang Supermarket): Sub-60-minute delivery service for groceries and consumer goods through Meituan Shangou and Xiaoxiang Supermarket. Goods sales revenue in new initiatives grew 40.7% YoY.
4. Hotel & Travel Bookings: Hotel reservation commission revenue and travel ticketing services; subject to regulatory scrutiny from SAMR, Cyberspace Administration, and National Railway Administration for ticketing practices.
5. In-Store Dining & Group Buying: Dianping-driven in-store services and group-buying (团购) revenue, including '秒提' (instant pickup) service covering 80,000+ stores across 40 chain brands.
6. Healthcare / Meituan Medicine Subscription: Paid membership service 'Health Card' (健康卡) for family health management plus online drug sales revenue.
7. Advertising & Merchant Marketing Services: Advertising revenue from merchants via Dianping rankings, Must-Eat List, Black Pearl Restaurant Guide, and brand satellite store promotions.
8. Investment & Equity Gains: Capital gains from venture investments (e.g., sale of Swiggy stake for over $200M, Moonshot AI investment via Long-Z Investments arm).
9. International Delivery (Keeta - Brazil): Food delivery service operated in 11 Brazilian cities; Keeta pays restaurant exclusivity fines as part of customer acquisition in Brazil, contributing 5% of total Meituan revenue.
10. B2B Technology Services (RMS/HMS/P牵牛花): Enterprise SaaS revenue from Restaurant Management System, Hotel PMS, retail system (Qianniuhua), and Beauty Industry CRM (K-Membership).

Pricing tiers

Go-to-market motion5 records

Distribution channels7 records

Marketing channels8 records

Core offering

Meituan operates a "Retail + Technology" super-app platform connecting consumers with local merchants for food delivery, hotel and travel booking, in-store dining, instant retail, healthcare, and beauty services. The platform aggregates millions of third-party merchants and serves 770 million annual transaction users, taking commissions on transactions, charging delivery service fees, selling advertising to merchants, and offering B2B SaaS tools such as Restaurant Management System and Hotel Management System.

Product overview

Meituan is a "Retail + Technology" super-app platform (listed on the Hong Kong Stock Exchange as 03690 since September 2018) organized around a central Meituan App that aggregates consumer services and a portfolio of sub-products, SaaS modules, and AI applications. The core Meituan App ties together Meituan Waimai (food delivery), Dianping (reviews/rankings), Xiaoxiang Supermarket (instant grocery), Meituan Preferred (community group buying), Meituan Insta-Shopping (flash retail), Meituan Travel (air/train/hotel/attractions), Meituan Hotel & Homestay, Meituan Pharmacy, Meituan Enterprise, and Keeta (Brazil). Underneath this sits Meituan Delivery, autonomous logistics including Meituan Drone, Meituan Autonomous Vehicle, and Xiaohuangfeng indoor-outdoor robots, plus merchant-facing SaaS modules — RMS, HMS, Qianniuhua retail system, Kemanman beauty CRM, Chucaobao smart hardware, Zhifu smart payment, and Kuailv B2B supply. An emerging AI layer wraps these with proprietary foundation models (LongCat family including LongCat-Flash-Thinking-2601, LongCat-Next multimodal, LongCat-Video-Avatar 1.5), AI applications (Tabbit browser, NoCode, CatPaw, Xiaotuan Health Butler, Merchant AI Guardian, Smart Shopkeeper), and societal programs (Rural Children's Playground, Kangaroo Treasure charity, Qingshan Green Plan). Developer integration is exposed through developer.meituan.com.

Differentiator

Problem solved

Functional benefit

Brands

• Meituan Waimai (美团外卖): Food delivery and instant retail app by Meituan
• Dianping (大众点评)
• Xiaoxiang Supermarket (小象超市)
• Kuailv Jinhuo (快驴进货)
• Waimai Dengji (歪马送酒)
• Tabbit
• LongCat
• Meituan Preferred (美团优选)
• Meituan Healthcare / Xiaotuan Health Butler (小团健康管家)

Products and services

• Meituan App (Meituan Super-App) Core super-app aggregating food delivery, in-store dining, hotel booking, travel, grocery, pharmacy, and other lifestyle services for Chinese consumers.
• Meituan Waimai (Meituan Food Delivery) China's leading on-demand food delivery platform providing restaurant meal ordering and rider fulfillment for consumers.
• Dianping (Restaurant Reviews) Restaurant reviews, ratings, and merchant discovery platform publishing the Must-Eat List and Black Pearl Restaurant Guide.
• Xiaoxiang Supermarket Meituan's self-operated grocery delivery service with 30-minute fulfillment integrating rural specialty goods into urban supply chains.
• Kuailv Jinhuo (B2B Food Supply) B2B food supply platform providing restaurants with ingredient supply covering produce, frozen goods, dry goods and condiments.
• Meituan Preferred (Community Group Buying) Next-day community group-buying service providing affordable groceries and daily goods to lower-tier cities and rural villages.
• Meituan Shangou (Instant Retail) Instant retail service providing sub-60-minute delivery of groceries, fresh produce, alcohol, and daily chemicals in Tier 1 and Tier 2 cities.
• Meituan Travel Travel booking platform offering air tickets, train tickets, hotel reservations, attraction ticketing and travel packages.
• Meituan Hotel and Homestay Hotel and homestay booking services with a dedicated cloud-based Property Management System for hotel merchants.
• Meituan Pharmacy On-demand pharmacy delivery service partnering with offline pharmacies and operating a self-operated online pharmacy integrated with AI health tools.
• Meituan Delivery (Open Logistics) Open third-party logistics delivery service available to external merchants in addition to Meituan's own instant retail operations.
• Tabbit AI Browser AI-native browser serving as an intelligent agent entry point with built-in multiple leading LLMs, cross-software task execution and memory functions.
• LongCat AI Model Family Meituan's proprietary family of large language models covering text, multimodal and video generation, available via the longcat.ai playground and powering Tabbit.
• CatPaw AI Coding Assistant Agent-human collaborative AI coding tool supporting code completion, project preview, and debugging.
• NoCode Development Platform Natural-language-driven no-code website and mini-program builder that auto-generates backend, third-party integrations, and one-click deployment.
• Xiaotuan Health Butler (AI Healthcare Agent) AI family health manager providing medical and medication consultation, health advisory, family health records, and interpretation of medical exam reports.
• Merchant AI Guardian AI risk-control suite that detects malicious reviews and fraudulent claims, blocks bad-faith customers, and provides one-click review appeals for merchants.
• Smart Shopkeeper AI Assistant AI merchant assistant integrating site selection, product selection, business analytics, customer growth models and operations canvas.
• Raccoon Kitchen Food Safety Program End-to-end traceable kitchen format with live-streamed kitchen feeds designed to give consumers transparency over food preparation.
• Meituan Drone Delivery Autonomous commercial drone delivery service operating 65 routes across multiple cities with proprietary drones, smart docking stations and cloud-based dispatch.
• Meituan Autonomous Ground Delivery Vehicle L4-autonomy ground autonomous delivery vehicle operating on public roads, campuses, communities and industrial parks.
• Xiaohuangfeng Indoor-Outdoor Delivery Robot Embodied-intelligent indoor-outdoor delivery robot with multimodal perception and autonomous navigation deployed in malls, airports and communities.
• Keeta (Brazil Food Delivery) Meituan-controlled food delivery platform operating in 11 Brazilian cities as part of a $1 billion investment commitment through 2030.
• Meituan Restaurant Management System (RMS) Smart cashier and restaurant IT SaaS providing membership, ordering, operations, and channel-agent partnership infrastructure for restaurants.
• Meituan Retail System (Qianniuhua) Retail digitalization SaaS for instant-retail merchants providing integrated warehouse, picking, delivery and inventory management.
• Meituan Hotel Management System (HMS) Cloud-based Property Management System SaaS designed for hotel merchants.
• Meituan Beauty CRM (Kemanman) Membership management SaaS tailored for the beauty and foot-care industry.
• Chucaobao Smart Hardware Smart in-store terminal that signals cooking completion to enable post-cooking dispatch and reduce rider wait time at restaurants.
• Meituan Zhifu Smart Payment Merchant smart-payment and operations toolkit with cash-collection and merchant-management features.
• Meituan Enterprise Edition Corporate services platform providing meal ordering, business travel, and transportation for enterprises.
• Meituan Business Loan Collateral-free loan service for Meituan merchants providing working capital.
• Dianping Must-Eat List Curated annual restaurant ranking based on real user reviews covering 120 cities.
• Black Pearl Restaurant Guide Annual premium-dining curated guide recognizing top restaurants across mainland China.
• Meituan Flash Warehouse Franchise Franchise partnership model for instant-retail front-warehouses providing new supply for Meituan's instant retail business.

Quantifiable outcome

• Operational loss in food delivery narrowed from RMB 16.1 billion to RMB 6.5 billion Q1 2026
• +6 more outcomes

Named customers16 records

Segments8 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability17 records

Feature13 records

Partnerships

19 partnerships are on record, tiered flagship and core.

• Tencent (WeChat)flagshipTechnology or Integration · 17 June 2026Inaugural partner for Tencent's WeChat AI ecosystem guidelines alongside KFC and Tongcheng Travel; Meituan integrated as AI-callable Skills within WeChat mini-program ecosystem; counterattack against ByteDance's AI assistant Doubao.
• Ant Group (Alipay)flagshipTechnology or Integration · 15 June 2026Meituan integrated as AI-callable Skills within Alipay mini-program ecosystem; part of joint counterattack against ByteDance's AI assistant Doubao; immediately secured integration along with JD.com and Didi.
• China Public Relations Association (中国公共关系协会)coreStrategic or Co-development Partner · 6 June 2026Joint partnership with Meituan and Yifang Foundation for Rural Children's Playground initiative; visited Qiaodi Kindergarten in Fugong County, Yunnan on International Children's Day June 1, 2026.
• Yifang Foundation (壹基金)flagshipStrategic or Co-development Partner · 1 June 2026Co-founding partner and implementation organization for the Meituan Rural Children's Playground公益计划; jointly built 5,152+ playgrounds across 31 provinces benefiting 688,000+ rural children; combined resources for disaster relief including Gansu Yuzhong flooding and Guizhou Rongjiang flooding responses.
• Authorized drone delivery service providers (10 first batch)coreChannel Partner/ Reseller/ Distributor · 21 May 2026Meituan drones opened authorized service provider recruitment for low-altitude logistics operators; first batch of 10 service providers signed, expanding from food delivery to diversified high-value scenarios; coverage includes Zhejiang, Hunan, Guangxi and other provinces.
• Purple Pepper (퍼플페퍼)coreChannel Partner/ Reseller/ Distributor · 13 May 2026Selected as official agency for Meituan/Dianping in Korea; enables Korean small businesses to list on Meituan platforms; connects Korean merchants to Meituan Group's 770 million annual transaction users; handles entry, Chinese content composition, advertising, and review management.
• Dingdong (Cayman) LimitedflagshipStrategic or Co-development Partner · 5 February 2026Definitive agreement signed for Meituan to acquire Dingdong's China business for $717 million in cash; subject to regulatory and shareholder approvals; shareholders approved the sale in March 2026 with 90% of proceeds to be used for share buybacks/dividends; transaction pending SAMR anti-monopoly clearance.
• Jiangsu Aid-Ili Front Command (江苏援伊前方指挥部)coreStrategic or Co-development Partner · 26 November 2025Co-launched 'Intangible Cultural Heritage Awakening Plan' with Meituan and Yifang Foundation; brings Jiangsu Intangible Cultural Heritage resources to 100+ rural kindergartens in Xinjiang; combines intangible cultural heritage education with physical education.
• United Nations World Food Programme (WFP)flagshipStrategic or Co-development Partner · 2 September 2025Joint launch of 'Pengshui Rural Children's Nutrition and Health Demonstration Project' providing nutrition support to ~1,000 children aged 3-5; WFP proposed the program built upon Meituan Rural Children's Playground公益计划; combines nutrition, sports, and health education across 8 kindergartens in Pengshui County; uses Beijing Normal University expert team for impact assessment.
• Guangzhou Restaurant Group (广州酒家)coreStrategic or Co-development Partner · 23 August 2024Signed digital service cooperation agreement; first Chinese heritage food enterprise in South China to launch drone delivery via Meituan; provides official identity authentication, online brand protection, and retail service upgrades.
• Sinocare (三诺生物)coreGTM or Marketing PartnerStrategic partnership with Meituan Healthcare for omnichannel distribution expansion; Sinocare serves 25+ million users across 187 countries with CGM and home monitoring devices; jointly showcase digital healthcare ecosystem at CMEF 2026.
• Huawei CloudcoreTechnology or IntegrationAI Model Partner Program including Meituan, DeepSeek, Baidu, iFLYTEK Spark, Zhipu AI, Kimi, StepFun, AIsphere, Shengshu Technology with 20+ model providers; announced at Huawei Cloud INSPIRE 2026 in Shanghai.
• Microsoft AzurecoreTechnology or IntegrationMeituan listed as major Chinese Azure customer spending over $1 billion annually on AI and cloud services; uses Microsoft AI and Azure OpenAI models; part of Microsoft's growing China AI business representing 1.5% of total Microsoft revenue.
• China General Chamber of Commerce (中国商业联合会)coreStrategic or Co-development PartnerCo-initiator with Meituan of 'Time-Honored Brand Digital Development Special Action'; provides guidance for digital transformation of heritage Chinese brands; involved in Nanjing, Suzhou and other regions' core scenic area partnerships.
• StarbucksflagshipStrategic or Co-development PartnerStrategic partnership for coffee delivery services in China (January 2022); Starbucks partnered with Meituan for delivery services; reference customer for 9.9 yuan coffee promotion at Chongqing Jiangbei Airport.
• Beijing Normal University (北京师范大学)coreImplementation/ SI/ Consulting PartnerBehavioral Health Research Center evaluating impact of Meituan's Rural Children's Playground program; assesses MVPA (moderate-to-vigorous physical activity) time, sedentary behavior, and outdoor activity among kindergarten children; provides research-based program evaluation.
• Agricultural Information Institute of CAAS (中国农业科学院食物与营养发展研究所)coreImplementation/ SI/ Consulting PartnerProfessional guidance for 'Eat-Move Balance' dietary recommendations; collaborates with Meituan and WFP on healthy menu development and dietary optimization.
• RoboSense Technology Co., Ltd.coreTechnology or IntegrationLiDAR supplier for robotics and autonomous applications; Q1 2026 shipments reached 330,300 units up 204.1% YoY; serves autonomous delivery, humanoid robots, and commercial cleaning; named 2026 Strategic Partner of Geely Group.
• All-China Federation of Trade Unions (中华全国总工会)coreStrategic or Co-development PartnerCo-organized 'Kangaroo Treasure Children's Choir' with Meituan providing free vocal training to children of new employment group workers; National Federation of Trade Unions Cultural Troupe provides teachers weekly.

Scale indicators16 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Alibaba Group: Direct competitor through Ele.me (food delivery), Taobao Shangou (instant retail), and Fliggy (travel). Overlaps with Meituan across nearly every local commerce vertical in China, and the recent re-entry of Alibaba's subsidy war is the primary competitive threat to Meituan's food delivery margins.
• JD.com: Direct competitor via JD Takeout (food delivery), JD Daojia (instant retail), and JD Health (online pharmacy). JD's integrated logistics backbone makes it the most structurally similar rival in instant retail, and the JD Health partnership parallels Meituan Healthcare.
• DoorDash: Closest US peer in food delivery and convenience/grocery delivery, with comparable marketplace commission model and merchant SaaS (DoorDash Storefront). Comparable on take-rate dynamics, gig labor model, and expansion into instant retail categories.
• Uber Technologies (Uber Eats): Direct peer in food delivery with comparable gig-economy rider model, marketplace commission structure, and ongoing operating losses in delivery. Recently expanded autonomous delivery partnerships and AI-driven dispatch, paralleling Meituan's drone/UGV investments.
• Delivery Hero: Global food delivery/Q-commerce peer operating across 70+ countries with similar merchant commission model and instant retail expansion (Dmarts/Dark Stores). Comparable on international footprint and platform-vs-private-label hybrid strategy.
• Grab Holdings: Southeast Asian super-app combining mobility, food delivery (GrabFood), and financial services. Most structurally similar 'super-app' peer outside China, with comparable diversification strategy and merchant services layer.
• Trip.com Group: Direct competitor in hotel/travel booking (Meituan Travel), with overlapping listings and recently also summoned by SAMR over similar ticketing practices. Comparable on hotel commission model and Chinese consumer travel demand.
• Just Eat Takeaway: European food delivery peer with pure marketplace commission model (vs Meituan's hybrid). Comparable on take-rate dynamics, restaurant relationships, and ongoing transition to profitability in mature markets.

Broad incumbents

• Pinduoduo: Chinese group-buying e-commerce incumbent with strong overlap to Meituan Preferred community group-buying model. Competes for lower-tier city merchant relationships and consumer wallet share, though not in food delivery.

Emerging players

• ByteDance: Emerging competitor through Doubao AI assistant (local services agentic commerce) and Douyin local life services. Tencent/Ant's June 2026 AI ecosystem launches with Meituan as inaugural partner were explicitly framed as a counterattack against ByteDance's AI push.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights8 records

Customer concentration

• Xx.com/meituan
• YouTubeyoutube.com/@MeituanOfficial
• Facebookfacebook.com/100075836006126
• LinkedInlinkedin.com/company/meituan
• Instagraminstagram.com/meituanofficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries8 records

Funding overview

Funding rounds13 records

Investors27 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments107 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Meituan