Meituan, the Tencent-backed ‘one-stop super app,’ files for IPO in Hong Kong

according to After months of speculation, Meituan, the largest service booking app in China, confirmed that it has filed for a public offering. Meituan was created after Meituan and Dianping, two competitors in the group deals space, merged in 2015 (it is still formally known was Meituan Dianping). Over the past three years, its revenue grew from 4 billion RMB in 2015, to 13 billion RMB in 2016, before hitting 33.9 billion RMB (about $5.2 billion) in 2017. Meanwhile, its gross transaction value went from 161 billion RMB in 2015 to 237 billion RMB in 2016, then 357 billion RMB (about $54.8 billion) in 2017. Meituan also said that it's adjusted net loss dropped from 5.9 billion RMB in 2015 to 2.9 billion RMB (about $430 million) in 2017.

China's version of Yelp files for IPO in Hong Kong

Zhang Peng/LightRocket via Getty ImagesMeituan Dianping has officially filed for an initial public offering in Hong Kong, according to regulatory documents listed on the Hong Kong stock exchange Sunday, according to Reuters. Meituan is backed by Tencent, the owner of China's WhatsApp-equivalent WeChat and the first tech company in Asia to cross $500 billion in valuation last November. The Yelp-like company follows in the footsteps of Xiaomi, the Chinese phone maker that sought to woo an IPO in the city last month. It also comes after Meituan bought bike sharing operator Mobike for a whopping $2.7 billion in April. It recorded 33.9 billion yuan (about $5.2 billion) in revenue last year -- up 161 percent from a previous year -- but Meituan also disclosed 2.85 billion yuan (around $438 million) in losses after accounting for adjustments, according to its filing.

Meituan-Dianping: Chinese tech firm files for huge Hong Kong IPO

as declared in (CNNMoney) Meituan-Dianping, a massive online services platform in China, has filed to go public in Hong Kong in a move that's expected to raise billions of dollars from investors. That would be double what Meituan was valued at in October, when an injection of $4 billion from investors like Chinese tech company Tencent valued the company at $30 billion. The company recently made headlines for buying Chinese bike-sharing company Mobike in a deal reportedly worth around $3 billion. Related: The wave of massive Chinese tech IPOs has begunMeituan is one of several major Chinese tech companies that are expected to go public in the coming year. Smartphone maker Xiaomi on Saturday detailed plans to raise around $6 billion in its Hong Kong IPO.

collected by :John Smith