Rumor: Meituan Lands USD 700 Mln Series D

DoNews, 12/22/14

According to industry sources, Chinese group buy site Meituan has landed USD 700 mln in new funding led by long-term investor Sequoia Capital. The investment values the company at USD 5 bln.

The funding will be the company's last before seeking an IPO, although Meituan stated it is not rushing to list and has no intention to do so before 2017.

Meituan came online in March 2010 and in its first year received USD 12 mln Series A funding from Sequoia Capital. In July 2011, Sequoia along with Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA) made a USD 50 mln Series B investment in the firm. In May 2014, General Atlantic led a USD 300 mln Series C investment with participation from Sequoia and Alibaba, valuing the company at USD 4 bln.

Editor's Note: For more background on this topic, please see "Meituan: 2014 GMV to Hit USD 6.5 Bln" MD 10/22/14 issue.

Keywords: VC Internet IPO funding Sequoia Capital Meituan fourth-round group buying

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