Meituan-Dianping fattens up for battles ahead

Tencent-backed online-to-offline unicorn, which offers everything from food delivery to travel, sees valuation soar to $30 billion. Now it faces off against a long list of enemies – not least Alibaba.

Keeping track on the phenomenal growth of China's online-to-offline O2O market a catch-all covering everything from food ordering and car-hailing to world travel and property rental is a full-time task. Chinese consumers can't get enough of its convenience by 2019, O2O companies are projected to generate a staggering $143.6 billion in total sales just from their online stores.

Not surprisingly, investors are as keen as shoppers on this burgeoning sector no matter how crazy the valuations seem. And a prime example of this hunger for O2O exposure was on show in the latest fundraising by a company that has a hand in just about every corner of the O2O market...

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