Meituan is a Chinese Internet company specializing in accepting local orders, delivering food from restaurants, products from stores, gifts and other goods, and providing various services. For 2022, it has an extensive logistics network, equipped with intelligent technologies, which allows the company to provide essential goods even in remote rural areas of China. In addition, Meituan owns an aggregated platform for ordering various consumer services from travel bookings and entertainment to caring for the elderly or animals.
History
2021: Building infrastructure for drone courier flights in Shanghai
In mid-July 2021, the Chinese company Meituan, specializing in food delivery, introduced a drone delivery system that will form the basis of infrastructure for drone couriers.
In early 2021, Meituan was able to raise $10 billion through the sale of shares and convertible bonds. During a record fundraising for the company, Meituan sold shares worth $6.6 billion and received about $3 billion in two-tranche convertible bonds. Another $400 million was raised by Meituan by selling an additional stake in its largest shareholder, Tencent Holdings, whose stake in the company is about 17%.
Despite the tight regulation of the technology companies sector, PEOPLE'S REPUBLIC OF CHINA investors believe in the prospects of these startups and are ready to support their initiatives. Applications for the purchase of shares were placed by at least 300 investors, and the market value of Meituan was $220 billion.
As part of a partnership with the Shanghai government, Meituan plans to build a demonstration center in the city's southwestern district, Jinshan, from where it will be able to deliver food within fifteen minutes for customers within a three-kilometer radius. Such efficiency will be provided by a three-tier drone network, ground support infrastructure (landing ports, battery change stations) and cloud control systems.
As of June 2021, Meituan drones have passed more than 200,000 flight tests and delivered more than 2,500 orders. Meituan has completed the preliminary stages of developing its unmanned aerial vehicles and dispatch systems, with more than 90% of major systems and components developed in-house. The new trials will allow the company to test delivery scenarios to residential areas, shopping malls and office buildings.[1]
Notes
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