From local vouchers to 1.6-trillion-parameter AI models

Countries & Cities · Published 12 October 2026 Swipe more like this →

In short: Meituan is no longer just a food delivery app; it is a massive logistics and technology ecosystem. By weaving together on-demand retail, autonomous vehicle IP, and large language models, the company has built a physical and digital infrastructure that touches millions of lives across China and beyond.

Founded in 2010 by Wang Xing, Meituan rose to dominance by consolidating China's fragmented 'deal-of-the-day' market. By 2014, it held a 60% market share of group-buying websites. The company underwent significant evolution, merging with Dianping in 2015 and rebranding as Meituan in 2020. Today, it serves over 770 million annual transacting users and maintains a massive logistics network spanning 2,800 counties and cities, supported by over 5.27 million delivery drivers as of 2021.

The company's strategy is defined by multi-layered service tiers. It operates 'Meituan Instashopping' for small businesses in lower-tier cities, 'Xiaoxiang Supermarket' for instant grocery needs in Tier 1 cities, and 'Meituan Select' for next-day delivery of non-immediate goods. This infrastructure is being modernized through heavy investment in high-tech logistics: Meituan partnered with Pony.ai to license UAV technology for urban deliveries and collaborated with Li Auto Inc. to acquire intellectual property for self-driving vehicle development in cities like Beijing and Shanghai.

Meituan's recent pivot emphasizes AI and global expansion. In 2023, it entered the AI sector by acquiring Light Year, leading to a suite of 'LongCat' models released between 2025 and 2026. These models power 'Xiaomei,' an AI agent for bookings and deliveries. Simultaneously, the brand is expanding internationally under the name Keeta, launching in Hong Kong (2023), Qatar (2025), the UAE (2025), Brazil (2025), and Saudi Arabia (2024). In the Kingdom of Saudi Arabia alone, Meituan plans to invest SR1 billion ($266.6 million) to target 80% of the local food delivery market by 2025.

Despite its scale, the company has faced significant hurdles. In 2021, regulatory scrutiny regarding anticompetitive practices led to a fine and wiped nearly $40 billion from its valuation. The company responded by shifting toward supply chain efficiency and profitability, aiming for positive margins by 2023 after facing losses from aggressive competition and government penalties.

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