We dive into the history behind Meituan, the juggernaut Chinese 'super-app' which dominates China's services economy, offering consumers everything from food delivery, restaurant reviews, travel booking, bike-sharing, movie ticketing, and countless other entertainment and lifestyle services all at the touch of a button.Winclone 8.2 Crack MAC Full Serial Keygen Full Download Already China's 3rd largest tech company by market cap (behind just Tencent and Alibaba), Meituan did $15 billion in net revenue in FY2019 and continues to grow rapidly. What makes it so special, and how were they able to become the market leader in such a competitive space? This story is packed with lessons that apply equally beyond China tech to high-growth company building and investing everywhere. If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like emergency pods and book club discussions with authors.

A huge part of Meituan's success and longterm defensibility versus its literally thousands of past competitors is its ability to cross-sell customers across many different product lines.Īdding product offerings (post initial product-market fit) isn't losing focus.

Meituan can afford to spend much more on acquiring and retaining a new user who'll end up purchasing food delivery, groceries, hotels, travel and more through the platform vs. Most western companies woefully misunderstand this dynamic.

Meituan enjoys an average of 26 transactions per user per year (vs e.g.

Airbnb users which book an average of 0.5 transactions/year). With each additional offering, Meituan increases the number of revenue streams it can amortize its CAC over, while also offering superior experiences to customers.

Key to making this strategy work is having the discipline to follow the same playbook as any startup: launch new initiatives quickly, test and improve based on real customer feedback, don't let perfect be the enemy of shipped, and kill what's not working and move on.

Meituan and Amazon's new initiatives often lack polish - but they either quickly bring in $billions of revenue, or they die and the company goes on to the next one. Chinese e-commerce was a 20% saturation industry in 2017 and still growing nicely.When you spot a market that's both large and growing fast - ride that wave!! WINCLONE 5 HOW TOĪgain with few exceptions, western tech companies completely misunderstand how to execute this playbook effectively.Ģ. However real world services was only 5% online, and poised to grow even faster. Staying nimble to capitalize on this online to offline (or 'O2O') trend allowed Meituan to accelerate while Alibaba was caught flat-footed.

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