Alibaba vs Meituan, and More: SHORT SHOTS

Welcome to today’s short shot discussing Alibaba vs Meituan and much more. Here we take a glimpse at what went on with the startups to make the headlines in a single article piece.

Alibaba vs Meituan: Alibaba gets competitive

E-commerce giant Alibaba has reconstructed operations to establish a new life services division. The new division includes mapping platform AutoNavi, online travel agency Fliggy, food delivery app, and local services connector Koubei. Therefore, this move will help Alibaba to compete with Meituan, a local service giant in China.

meituan03 Alibaba vs Meituan, and More: SHORT SHOTS
Alibaba VS Meituan

Suning bailed out

Troubled retailer Suning will receive an RMB 8.8 billion ($1.36 billion) lifeline from an investment group. This group includes Alibaba, rivals Midea and Haier, and the Jiangsu provincial government. The coalition will hold 16.96% of equity. Consequently, Suning’s founder Zhang Jindong will lose majority control of the company.

No more price manipulation

China’s top market regulator further restricted e-commerce platforms from manipulating prices on their platforms price manipulation. In a July 2 directive, the State Administration for Market Regulation specified that it will increase penalties for price dumping, price hikes, and disregarding government price controls.

Nayuki Tea IPOs

Nayuki Tea, a chain that offers modern tea-based drinks, raised HK$4.84 billion ($623 million) in a Hong Kong IPO on June 30. The tea store, which now also sells coffee-based drinks, competes with rivals like fruity beverage chain HeyTea and coffee chain Luckin. The company’s shares fell more than 10% on the morning of its first trading day.

Yunquna to expand overseas network

Chinese logistics firm Yunquna announced on June 29 that it had raised $150 million in its Series D. Firstly, Citic Capital led the investment and China Renaissance served as the financial advisor. Furthermore, the company said it will use the funds to expand its overseas destination ports and improve shipping and delivery speed.

Luckin discloses fraud details

Chinese chain store Luckin Coffee released an amended 2019 financial statement on June 30, the first filing since it admitted fraud in 2020. However, the company booked a loss of $454 million in 2019 and inflated revenue by nearly RMB 2.12 billion.


Alex is a seasoned editor and writer with a deep passion for technology and startups. With a background in journalism, content creation, and business development, Alex brings a wealth of experience and a unique perspective to the ever-changing world of innovation. As the lead editor at Startup World, Alex is committed to discovering the hidden gems in the startup ecosystem and sharing these exciting stories with a growing community of enthusiasts, entrepreneurs, and investors. Always eager to learn and stay updated on the latest trends, Alex frequently attends industry events and engages with thought leaders to ensure Startup World remains at the forefront of startup news and insights. Alex's dedication and expertise help create an engaging platform that fosters knowledge-sharing, inspiration, and collaboration among tech-savvy readers worldwide.

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