Meituan Obtains Eight-digit USD Second Round Funding

Chinese group buying site Meituan, has announced that it recently obtained tens of millions USD sum in its second-round funding, from Chinese B2C e-commerce giant Alibaba Group, Northern Light Venture Capital and its first round investor Sequoia Capital. The site targets sales of RMB 1.6 billion this year, according to the source.

Meituan said that it will release further details about this second- round funding sometime this week.

Meituan CEO Wang Xing claims that, the general depressed state of China’s capital markets has lasted for nearly two months now, which makes investors start to be more cautious. It’s much more difficult at this stage to start financing talks than before.

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