Sina Tech, 1/04/15
Chinese group buy site Meituan has announced that its gross merchandise volume (GMV) for 2014 surpassed RMB 46 bln, growing 180% from the previous year. The site now boasts over 60% of China's group buy market, up from 53% in 2013.
Meituan covers almost 1,000 cities across China, having added more than 800 in the previous 12 months. Total number of users now exceeds 200 mln, and the number of sellers on the site has grown 300% to over 800,000 since 2013. More than 90% of Meituan's GMV came from mobile users in 2014.
Meituan will focus on building out its comprehensive lifestyle service platform in 2015, and forecasts that 2015 GMV will exceed RMB 10 bln.