Meituan Acquires Mobike in $2.7 Billion Deal
China’s largest online booking platform Meituan-Dianping is riding into the white-hot bike-sharing market by acquiring one of the dominant players, Mobike.
Meituan signed an agreement to take over the three-year old Mobike, Meituan’s CEO Wang Xing said in an internal letter on Wednesday.
The deal, which includes a mix of cash and equity, valued Mobike at $2.7 billion, a person close to the matter said.
- 1 Own Goal? China Company Faces Massive Customer Refund If France Wins World Cup
- 2HNA Unveils New Leadership Lineup After Death of Co-Chairman Wang
- 3Opinion: How Did China Leapfrog Everyone in E-Commerce?
- 4Luxury Brands Slash Price Tags in China
- 5Debate Over China’s Fiscal Policy Heats Up as Growth Slows
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas