Meituan's revenue 2015-2023

In 2023, Meituan generated about 276.7 billion yuan in revenue, a significant increase from just four billion in 2015. As of 2023, Meituan ranked seventh globally among internet companies in market capitalization.

China’s local service leader

Founded in 2010, Meituan is China's leading q-commerce and online food delivery service provider. The company generates the most revenue from its core local commerce businesses, such as food delivery and e-commerce. The company’s revenue and user numbers have seen prominent growth in recent years, especially after the outbreak of the coronavirus pandemic. As of the end of 2022, Meituan had more than nine million merchants and 680 million users.

From local to global

Meituan's success was largely due to its change in strategy, which focused on cultivating the local market. The company expanded rapidly in various online-to-offline on-demand services, including online food delivery, car hauling, event ticket booking, and quick commerce. In 2022, the company recorded more than 17 billion on-demand transactions, roughly equals to more than 40 transactions per user. Resulting from a saturated domestic market and growth slow-down, Meituan is reported to seek for global expansion. In May 2023, Meituan officially announced the launch of its food delivery brand, KeeTa, in Hong Kong.