Comment on Daily Sales of Group Buying Site Meituan Surpass 100 Million Yuan by Local E-commerce Service Meituan's Half-year GMV Surpassed Last Year's, Over 70% from Mobile | TechNode

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-01-02 00:00:00

Screenshot of Wang’s WeiboThe daily sales of group purchasing site Meituan hit more than 100 million yuan ($16.52 million), according to a Weibo post by Wang Xing, CEO of the company as well as a serial entrepreneur who gave birth to Renren. Meituan only took half a year to double this figure after announcing 50 million yuan milestone in June, 2013. Wang previously claimed that Meituan has had a 50% market share of Chinese group buying sector. According to statistics released by Meituan, the company’s sales from film ticket group buying businesses account for around 10% of total domestic box office revenue, while its sales for hotel reservation business account for 70% of the group buying industry. [Update] Meituan also launched online food ordering service to lay out in O2O sector.