Meituan Becomes No. 2 Hong Kong Food Service Months After Debut

(Bloomberg) — Meituan has become Hong Kong’s second-largest food delivery platform since its launch in the city last May, a sign that splashy subsidies are boosting the company’s first major foray outside the Chinese mainland.

The internet firm’s sister app “KeeTa” accounted for 37% of the local food delivery market in December, according to data from Measurable AI, a Hong Kong-based firm that tracks business receipts. That trails Delivery Hero SE’s Foodpanda at 42% but surpassed Deliveroo Plc’s 20% despite a phased rollout that still doesn’t cover the entire territory.