Breaking! Meituan invests over $700 million to acquire Dingdong Maicai!

On February 5th, Meituan announced on the Hong Kong Stock Exchange that it will acquire 100% equity of Dingdong Maicai China business for an initial consideration of approximately $717 million.

The announcement states that Dingdong Maicai’s overseas operations are not included in this transaction and will be divested before the closing. During the transition period, Dingdong Maicai will continue to operate under its pre-transaction model.

Founded in 2017, Dingdong Maicai is a leading domestic fresh produce instant retail platform, primarily offering “delivery within 29 minutes.” The company listed on the New York Stock Exchange in 2021. In the third quarter of 2025, Dingdong Maicai achieved revenue of 6.66 billion RMB, setting a quarterly record; net profit was 80 million RMB, maintaining seven consecutive quarters of GAAP-standard profitability.

Before the market open on February 5th, Dingdong Maicai’s market capitalization was $694 million.

Meituan stated that the company highly values its instant retail business. Dingdong Maicai’s pursuit of the理念 of “good users, good products, good service, good mindset” aligns well with Meituan’s mission to “help everyone eat better and live better.” This acquisition will help leverage both parties’ strengths in product, technology, and operations to provide consumers with a higher quality shopping and delivery experience.

Public data shows that as of September 2025, Dingdong Maicai has over 7 million monthly purchasing users.