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Meituan CEO Wang Xing. Photo by Bloomberg

Meituan’s Turnaround Holds Lessons for Uber

Photo: Meituan CEO Wang Xing. Photo by Bloomberg

Before Uber became the poster child for public investors’ aversion to money-losing tech companies, Chinese on-demand services giant Meituan went through a similar experience. But it figured out how to win over investors.

In the four months after its September 2018 IPO, Meituan stock fell 40% as investors balked at mounting losses from its mix of food delivery, travel booking and ride-hailing services. But since the beginning of this year, the stock has more than doubled, lifting its market capitalization to more than $70 billion, a turnaround that holds some lessons for Uber.

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