On March 4, insiders from the Chinese OTO life service giant Meituan Dianping told Tencent News that Wang Xing, founder and CEO of the company, issued an internal letter to commemorate the tenth anniversary of its establishment.
According to Wang, it has been ten years since the first group buying project of Meituan went online on March 4, 2010. Wang Xing initially followed the business model of the American company Groupon while launching Meituan. The company successively obtained investments from Sequoia Capital, Alibaba, and then began to quickly grow from first-tier cities to second, third and even fourth-tier cities.
“Thanks to the times, a small team of a dozen people started the business a decade ago in a three-bedroom private apartment, and today we have made some progress, thanks to over 40 years of reform and opening up in China, and great global changes brought by digitalization. We express our gratitude to hundreds of millions of users, millions of cooperative merchants and various partners, as well as every delivery rider who is struggling on the road,” Wang wrote in the internal letter.
“In the new decade, we will increase investment in scientific and technological research and development, so that science and technology could further benefit the development of all industries, and we will also make further progress in corporate governance and talent development,” he continued.
The official Meituan account also posted on Twitter, “As Meituan celebrates our 10th anniversary, we thank our users, riders, employees, merchants & partners for their support. We promise in the decades to come to remain customer-centric, and focused on using technology and innovation to make life better for all.”