Meituan-Dianping, China’s O2O and e-commerce platform, announced today that it has landed a $4 billion Series C round of financing led by Tencent.

With the newly pocketed funds, the firm is expected to further expand its four core businesses: in-store dining, entertainment, on-demand delivery, and travel. Meituan-Dianping has a large scale of offerings, including food delivery, group buying, hotel booking, and even movie ticket sale. Also, Meituan-Dianping provides a wide range of services in the O2O sector that continue to challenge Alibaba. With that being said, it’s fair to say that the latest funding round reflects a much more heated proxy battle between Tencent and Alibaba.

“Meituan-Dianping is leading a major transformation of China’s traditional services industry by creating a powerful new e-commerce ecosystem that covers customers’ whole day lifestyle scenarios,” said Wang Xing, CEO of Meituan-Dianping, in a company statement. “The strong support from a number of innovative and strategic global investors in this financing round is strong validation of our business model and strategy.”

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Timmy Shen

Timmy Shen is a technology reporter based in Beijing. He's passionate about photography, education, food and all things tech. Send tips and feedback to timmyshen@technode.com or follow him on twitter at...