Meituan has over 50% of China’s group-buying market in terms of gross merchandise volume (GMV), according to multiple industry reports.

At the company’s third annual event earlier this year, Wang Xing, founder and CEO, disclosed that as of 2013 Meituan had 70 million users and 400,000 customers in over 200 Chinese cities.

At the end of the 2012 the company claimed it broke even. ( Update: The profit margin is 5ish% as of October 2014, Yang Jun, vice president of Meituan, disclosed it at an event in Beijing on October 26th, 2014.)

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com