What Dingdong does

Dingdong (Cayman) Limited (NYSE: DDL) operated as a leading on-demand fresh-grocery e-commerce platform in mainland China, founded in May 2017 by Changlin Liang in Shanghai. The company directly delivered fresh produce, meat, seafood, and other daily necessities to users and households through an extensive self-operated frontline fulfillment grid, with a stated target of 30-minute delivery and disclosed order volume of nearly one million per day. Its technology stack centered on a digitalized fulfillment infrastructure designed to support rapid last-mile delivery, complemented by an effort to modernize China's traditional agricultural supply chain through standardization and digitalization of upstream farm production.

The business model was transaction-based direct-to-consumer e-commerce: revenue came from per-order sales of groceries and daily necessities via the company's own app and website, with 7M+ monthly transacting users reported as of September 2025. As a margin and differentiation lever, Dingdong produced many of its private-label food products at company-owned plants, embedding upstream manufacturing economics into the retail offering. Q3 2025 revenue was RMB 6.66 billion and Q4 2025 revenue was RMB 6.24 billion, with the company maintaining GAAP profitability for eight consecutive quarters.

In February 2026, Dingdong announced a definitive agreement to sell its China operating subsidiary Dingdong Fresh to Meituan's wholly-owned subsidiary Two Hearts Investments for US$717 million in cash plus up to US$280 million in additional consideration (up to US$997 million total). Concurrent with the transaction, founder Changlin Liang transitioned from CEO to Chairman of the Board, with CFO Song Wang named CEO, and CTO Xu Jiang resigned. Dingdong stated it would distribute not less than 90% of net proceeds to shareholders via buybacks or dividends, repositioning the post-deal entity around its international business rather than its former domestic scale.

Name

Dingdong

Legal name

Dingdong (Cayman) Limited

Website

https://ir.100.me/

Company type

Public

Founded year

2017

Operating status

Acquired

Short description

Dingdong (NYSE: DDL) was a China-based on-demand fresh-grocery e-commerce platform delivering produce, meat, seafood, and daily necessities to households via a self-operated frontline fulfillment grid targeting 30-minute delivery. In 2026 it sold substantially all China operations to Meituan to refocus on its international business.

Ownership category

akta.pro rank

Product category

Online Grocery

NAICS

Local Messengers and Local Delivery (49221), Fish and Seafood Merchant Wholesalers (42446)

SIC

Trucking & Courier Services (No Air) (4210)

akta.pro primary industry

International Compliance, Duties & Tax (DDP/Customs) Solutions (CRAFAJAG)

akta.pro secondary industries

Cross-Border E-commerce Parcel (DDP/Delivered Duty Paid) (TLAAANAD), DDP/Delivered Duty Paid Managed Solutions (TLACAKAB)

Keywords

• Fresh grocery delivery
• Online grocery retail
• On-demand e-commerce
• Private label food
• Agricultural supply chain

Headquarters

HQ city

Pudong

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Fresh Grocery E-commerce: Dingdong generates revenue through direct sales of fresh groceries, meat, seafood, and daily necessities to consumers via its online platform. The company offers private label products spanning various food categories, with some produced at its own facilities. Revenue is transaction-based, driven by order volume and customer purchasing frequency.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Dingdong is an on-demand e-commerce company in mainland China that delivers fresh produce, meat, seafood, and daily necessities directly to consumers and households through a self-operated frontline fulfillment grid with a 30-minute delivery target. The company also operates proprietary private label production facilities to vertically integrate its supply chain and works to modernize China's agricultural supply chain through direct sourcing from farms and cooperatives.

Product overview

Dingdong operates as a leading on-demand fresh grocery e-commerce platform in China, offering a unified offering centered on its core Dingdong Fresh platform. The platform delivers fresh produce, meat, seafood, and daily necessities through an extensive self-operated frontline fulfillment grid, targeting delivery within 30 minutes for nearly one million orders per day. The company has expanded into private label products, including items produced at its own production plants, enabling it to offer safe and high-quality food products while differentiating from competitors.

Differentiator

Problem solved

Functional benefit

Products and services

• Dingdong Fresh on-demand grocery delivery
• Dingdong private label products

Quantifiable outcome

• Nearly 1 million orders delivered per day
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• MeituancoreOthers · 5 February 2026Meituan acquired substantially all of Dingdong's China operations through its wholly-owned subsidiary Two Hearts Investments for US$717 million in cash plus up to US$280 million additional cash (totaling up to US$997 million). The transaction involved Dingdong's wholly-owned subsidiary Dingdong BVI and was subject to shareholder approval and anti-monopoly clearance from China's State Administration for Market Regulation. This represented a major strategic transaction for Meituan to expand its instant retail position in China's fresh grocery sector.

Scale indicators10 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Meituan: China's leading on-demand delivery and instant retail platform and now the acquirer of Dingdong's China operations. Directly comparable quick-commerce model (Meituan Maicai/Shangou) targeting the same Chinese consumer base with 30-minute grocery delivery.
• JD.com (Jingdong): Major Chinese e-commerce platform with substantial same-day fresh grocery delivery (JD Daojia/JD Fresh) capability. Competes head-to-head with Dingdong in Chinese household online grocery and provides a reference point for a platform-led grocery model.
• Alibaba (Freshippo / Hema): Operates Freshippo (Hema), a leading Chinese fresh grocery omnichannel with private label production and 30-minute delivery. Closest analog to Dingdong's vertically integrated grocery + private-label + quick delivery model.
• Pinduoduo (PDD Holdings): Chinese e-commerce giant with growing agricultural and grocery vertical presence. Comparable as a China-focused, direct-to-consumer e-commerce platform with strong supply-chain-side leverage.

Direct peers

• Missfresh: Was a direct head-to-head competitor to Dingdong in China's on-demand fresh grocery e-commerce market, operating a similar self-operated frontline fulfillment model. Useful as a reference for the segment's competitive dynamics and execution pitfalls.
• Instacart (Maplebear): US online grocery delivery platform connecting consumers with retailers for same-day fulfillment. Closest Western analog to Dingdong's on-demand fresh grocery e-commerce model and a benchmark for unit economics at scale.
• Coupang: Korean e-commerce company with integrated Rocket Delivery logistics providing same-day grocery and essentials fulfillment. Comparable end-to-end vertically integrated quick-commerce operator serving households.
• FreshDirect: US-based online grocer focused on fresh produce, meat, and seafood with own fulfillment infrastructure. Closely mirrors Dingdong's fresh-grocery-first SKU strategy and direct-to-consumer model.

Emerging players

• Getir: Quick-commerce operator in multiple geographies emphasizing 10-minute delivery of groceries and essentials. Comparable in quick-commerce customer experience and fulfillment model, although less focused on fresh supply chain ownership.
• HelloFresh: Direct-to-consumer meal-kit and grocery subscription company with vertically integrated sourcing and own-brand production. Comparable in private-label food production and direct-to-household distribution DNA.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about Dingdong