China's Meituan Dianping raises $4 billion, valuing firm at $30 billion

Reuters News
Posted: Oct 18, 2017 11:59 PM

BEIJING (Reuters) - China's largest on-demand internet services platform, Meituan Dianping, has raised $4 billion in a new funding round, valuing the firm at $30 billion, it said on Thursday.

The round was led by previous backer Tencent Holdings Ltd, and will be used to develop artificial intelligence and other new technologies.

Meituan Dianping has 280 million users and is an online platform for services such as ticketing, food delivery and travel.

(Reporting by Cate Cadell; Editing by Clarence Fernandez)