Food Delivery

ByteDance’s Douyin expects that its no-commission structure and huge traffic from short videos can lure consumers away from incumbent platforms like Meituan and Ele.me.

Zomato reported a revenue of INR 1,367.65 crore (USD 183 million) for the period April 1 to Dec 31, 2020, while its losses in the same period stood at INR 684.15 crore.

Earlier this month, Meituan was among 34 tech firms that were urged to correct anti-competition practices.

The second wave of novel coronavirus in India is much more severe than the last one. Since April 15, more than 200,000 cases per day are being recorded.

Tencent will remain Meituan’s biggest institutional shareholder with a 17.2% stake.

The latest funding has boosted the Bengaluru-based startup’s valuation to almost USD 5 billion from USD 3.7 billion in February last year.

Gojek started as a ride-hailing provider. It is now far more than that.

Almost half of the Chinese netizen population, or about 490 million customers, had ordered food online in 2020.