Happy endings should be saved for those you love the most. Ridesharing Forum’s way of ending this workweek? The news that Meituan, China’s super-app, its version of Dubai’s Careem, has acquired Dingdong, a leading digital shopping platform that New York City owns. Here’s the scoop.
This week, the Chinese food delivery giant announced it has agreed to buy the eCommerce app, which has its own unique market in the East Asian country, as it specializes not in the usual food delivery of foodpanda, Rappi, and Uber Eats, but in fresh groceries, like fruits and vegetables, yes, fruits, dear.
Meituan told the media it has invested in every issued share of Dingdong Fresh Holding, the business name of the platform in the exciting Big Apple, for an initial consideration of $717 million, subject to adjustment, though, according to the Hong Kong Stock Exchange.
Furthermore, the deal is established to be subject to conditions, such as the Chinese anti-trust clearance and the completion of the necessary filing with the country’s commissions and authorities.
But the deal is as nice as done. Business wit is their middle name.
Ding Haifeng, consultant at the Shanghai-based financial advisory company Integrity, told ridesharing media, “More merger and acquisition deals can be expected as gargantuan delivery firms look to enlarge their business scale and enhance operating efficiency in a cutthroat market. Most small players, facing financial difficulties, are willing to be assimilated by big rivals as competition escalates.”
That’s the expert’s take. Meituan entered into this deal, since they believe grocery retail is their “strategic priority” and that the acquisition was in line with its long-term development plans along the way. Perfect timing, sober passionfruit.
This deal is also being seen as a way for Meituan to escape from the competition probe and assessment that the country’s authorities have laid down on them, together with big companies like JD.com and Ele.me.
Think tanks, such as eCommerce consultancy Dolphin Think Tank and its CEO, Li Chengdong, stated this deal is “expected to help Meituan strengthen its position in the instant retail market.” That’s news.
Did Meituan make the right decision? Experts elsewhere say yes. The company is supported by massive funding, raising around $96 million in an IPO on the, get this, New York Stock Exchange after slashing the size of the share sale to approximately a quarter of its target earlier. To keep the way-too-long statement short, Meituan got the best of both worlds on their hands.
It was in September of last year when the New York City-owned company operated thousands of front-end warehouses across China with more than seven million users doing business on a month-by-month basis. Speaking of profits, just on the first nine months of 2025, the company earned a net profit of $32 million, and there were still months to count.
Various stories of these are shared all over Meta in Asia, and likewise, internationally – including in Thailand and Vietnam – but interestingly enough, there are few to no engagements about this subject. Nevertheless, Meituan is doing it like a boss. For more ridesharing and food delivery news, keep browsing this Ridesharing Forum website.