Meituan-Dianping seeks IPO in the US by 2018

Meituan-Dianping looking for IPO in the United States for at least US$3 billion by 2018. The Beijing-based platform for food ordering services, restaurants, movie tickets and others is considering in New York next year on the amount represents at least 10 percent of the valuation as China's largest corporation in the US since Alibaba in 2014.

Tinuku Meituan-Dianping seeks IPO in the US by 2018

Meituan-Dianping is an online platform offering a variety of services including movie tickets, food delivery, beauty services, car repairs and more. CEO and founder Wang Xing last month announced the company has raised US$4 billion in fresh funds valuing the company to US$30 billion.

Current investors include Tencent, Priceline, Sequoia Capital, Singapore's GIC Pte Ltd, Temasek, DST Global and Canada Pension Plan Investment Board. A source said Meituan-Dianping had a conversation with advisors to create an IPO plan that is likely to take place at the start of the first half of 2018.

The IPO will help increase the purchasing power of Meituan-Dianping for investment in retail technology as a strategy in China's leading e-commerce ranks including Alibaba, and Didi Chuxing. A Meituan-Dianping spokesman declined to comment at this time.

The company was formed by a merger of US$15 billion by 2015. Currently the platform has 280 million users and about 5 million businesses. In July, Meituan-Dianping vice president Chen Shaohui said it would not consider an IPO until they set up infrastructure for offline retail services and cash reserves of about US$3 billion.