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China’s Meituan to launch Keeta food delivery in brazil with $1 billion investment
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TechNode
Chinese on-demand giant Meituan is bringing its food delivery brand Keeta to Brazil, marking its latest international push following launches in Hong Kong and Saudi Arabia.
The company plans to invest $1 billion in Brazil over the next five years to build out logistics infrastructure and support local merchants.
The announcement came during a signing ceremony in Beijing attended by Brazilian President Luiz Inácio Lula da Silva and Meituan founder Wang Xing.
While Keeta helped restaurants in Hong Kong double their sales, it has also faced worker protests over pay.
Meituan shares fell 4% in Hong Kong on Tuesday following broader market shifts.
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