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Dianping, Meituan partner to create O2O leader
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China’s major restaurant rating website Dianping.com and a leading groupon website Meituan.com said today they have signed strategic cooperation to create a new company aiming to dominate local services from restaurant deals to movie bookings.
The merger is supported by the two websites’ investors Alibaba and Tencent to cease price wars and improve margins.
Wang Xing, CEO of Tencent-backed Meituan and Zhang Tao, CEO of Alibaba-backed Dianping, will be co-chairman and co-CEO of the new company.
Dianping and Meituan will keep their independent brands and operations while working closer with each other to enhance in-store and online interaction.
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