Rumor: Dianping Lands USD 800 Mln Series E
Sina Tech, 12/29/14
A source close to the matter has revealed that Shanghai Han Tao Information Consultation, the operator of online ratings and group buy site Dianping, has landed USD 800 mln in fifth-round funding. The funds will be used to speed up Dianping's expansion of certain businesses including group buying, restaurant booking, hotel booking and cinema ticketing.
Dianping's single-month group buy transactions totaled RMB 2 bln in November. Since the start of 2014 the site's group buy order volumes more than doubled, and the number of businesses offering group buy products grew five times. Over the same period the number of merchants covered by Dianping's online booking service increased 3-fold to almost 30,000 companies, the number of hotel bookings increased 6-fold and the revenues from hotel bookings increased 5-fold.
Following the new round of investment, each of Dianping's businesses will approach a more established level of development, and the parent company has already started preparations for an IPO.
The company has yet to officially comment.
Keywords: fifth-round Internet IPO online booking Dianping group buying Han Tao Information Consultation online ratings funding transaction volume online reviews online ticketing
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