Acquired Meituan
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Mar 10, 2021 Dive into the fascinating journey of Meituan, a dominant Chinese super-app that has transformed the services economy. Explore its rapid ascent to become China's third-largest tech giant, outpacing established competitors. Uncover the entrepreneurial spirit of Wang Xing and the strategic innovations that enabled Meituan's growth, particularly in the competitive food delivery market. Learn how it has adapted to market challenges and consumer behaviors, while integrating diverse services and navigating the complexities of China's tech landscape.
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Wang Xing's Early Life
- Wang Xing, Meituan's founder, studied electrical engineering at Tsinghua University.
- He dropped out of his US grad school to pursue tech entrepreneurship, inspired by Friendster.
First Cloning Attempt
- Wang Xing cloned Friendster in China as "Duo Duo You", targeting college campuses.
- It failed, much like Friendster did in the US.
Facebook Clone
- After the Friendster clone failed, Wang Xing created a pixel-perfect clone of Facebook, called Xiaonei.
- Unable to raise funds, he sold Xiaonei for $2 million; it later became Renren, the "Facebook of China."
