On Breakingviews - Meituan Dianping has driven, and pedalled, itself to distraction, says AlecMac11:
Drivers of food delivery service Ele.me and Meituan are seen in Beijing, China April 11, 2018. Picture taken April 11, 2018.
Distributing dumplings and other fare is the most tantalising dish in Meituan’s smörgåsbord of services. Those sales soared by two-thirds in the final three months of 2018, to $1.6 billion. Fears about intense competition may be overcooked. While subsidies and other hefty expenses ballooned Meituan’s operating loss to $1.6 billion in 2018 from $570 million a year earlier, there may be a payoff in the works.
That inspires a degree of confidence about some initiatives. One, for example, supplies ingredients, and technology, to restaurants. The valuable data being gathered might be put to profitable use down the road.
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