Meituan is the largest online marketplace for the local service industry in China, committed to enabling citizens to “eat better and live better”.
In China, mobile technology is an essential means of navigating life, particularly within its numerous megacities. Meituan’s mobile online one-stop shop operates across more than 200 categories in around 2,800 cities. It is especially dominant in on-demand restaurant delivery, in-store dining, hotel and travel booking, and film ticketing. It has been known to process over 50 million orders in a single day. There is no comparison outside China, given its home country’s size, and the sheer scale of the opportunity underscored by the urban density of China’s megacities.
Meituan has built the largest intra-city on-demand delivery network in the country, using cutting-edge big data and AI technology to reduce delivery times dramatically. It is scarcely possible to cross the street in China without a Meituan delivery driver buzzing by. The company is already helping to change food consumption patterns in China, with millions of people ordering two to three meals a day over the platform.
The founder, Wang Xing, is a serial entrepreneur. With an uncompromising obsession with convenience, he created the company’s mission to help ‘people to eat better and live better’. He spends the bulk of his time thinking about the next 10 years, which fits well with the long-term investment horizon of Scottish Mortgage.
in November 2015.
The company showcased on this page is part of a diversified portfolio. The commentary should not be taken as advice on an individual stock.
Image Credit - © Imaginechina Limited/Alamy Stock Photo
Investment trusts are UK public companies and are not authorised and regulated by the Financial Conduct Authority. You may not get back the amount invested and please bear in mind that past performance is not a guide to future performance.