Tencent Tech, 3/21/14
Industry sources have revealed that Chinese group buy site Meituan is nearing completion on a new round of funding of over USD 100 mln led by Sequoia Capital. Upon receipt of the funding, Meituan will reportedly seek to IPO in H2 2014.
Steven Ji, a partner at Sequoia Capital China, declined to comment on the matter. Meituan VP Wu Maolin has said that a Meituan IPO would not likely occur as soon as H2 2014.
Editor's Note: For more information on this topic, please see "Meituan Seeks Third-Round Funding," MD 7/11/11 and "Meituan Provides Further Details on Second-Round Funding," MD 7/07/11 issues.