Before founding Meituan，Wang Xing’s entrepreneurial experience is not considered successful，But he can always find the outlet first，On campus、Fanfou’s failure in the end was mostly due to bad luck，Wang Xing, who has suffered many defeats and battles, also won the title of "The Unbeatable Xiaoqiang"，In the later Thousand Regiment War，Meituan finally stands out，Wang Xing, who played steadily, had the last laugh。

But we are constantly expanding our product lines、After entering O2O，Meituan’s radical development since last year，Is breaking away from Wang Xing’s familiar rhythm and control。Facing Competition，For scale growth，The speed of burning money has greatly accelerated，Nevertheless，Data is displayed，Meituan’s share in group buying and other markets continues to shrink under the squeeze of Dianping and Nuomi。

Along with this situation，It is the recent rumors about Meituan’s difficulty in financing，Although Meituan later emphasized that the financing was smooth，But it is still difficult to dispel the doubts of the outside world，Whether investors have the confidence to bet on Meituan and BAT fighting at the same time？

In fact，July 2011，Alibaba once invested in Meituan and obtained about 10% of the shares，Former Alibaba Vice President Gan Jiawei also joined Meituan，This time, Meituan was classified as Alibaba by the industry，But Wang Xing once emphasized to Tencent Technology，Alibaba’s investment in 188bet sports betting app download Meituan is only a financial investment。

A Meituan insider said about Tencent Technology，Wang Xing has a strong personality、Very ambitious，Hope to make Meituan as good as Alibaba，So this determines that Alibaba and Meituan are both enemies and friends。

On Alibaba’s Double Eleven last year，O2O plays an important role，But there is no Meituan in it。In this year，Alibaba competes with Meituan in multiple areas: in food delivery，Alibaba and Ant Financial invest 6 billion yuan to develop word-of-mouth platform；In the movie online ticket market，Taobao Movies relies on Alipay and Alibaba Pictures to gain momentum。

What’s even scarier，Tencent and Baidu have also become direct competitors of Meituan，In addition to the legendary 20 billion yuan to promote Nuomi, Baidu，Also provides mobile phone Baidu、Baidu Map、Qunar.com and other entrance resources；Dianping, which is backed by Tencent, is supported by WeChat and other portals。

Singmei Cinemas recently terminated cooperation、Rumors about Maoyan CEO Shen Li’s resignation，Also once again put Meituan on the forefront。

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In the past two months，Meituan’s financing is like a suspense drama，The plot keeps flipping。

July，Meituan once released news that it planned to raise US$1 billion，Valuation reaches $15 billion；September，News about Meituan’s financing difficulties began to circulate；The spokesperson of Meituan later stated，The new round of financing has entered the advanced stage，The overall financing amount is between US$1.5 billion and US$2 billion；An investment banker revealed，Meituan’s current cash flow situation is not optimistic，Valuation has been reduced，Planning to raise US$800 million。

An investor close to Meituan said about Tencent Technology，Meituan’s current financing is indeed in progress，It’s just because investment institutions believe that Meituan’s current valuation of itself is too high，So investors are still relatively cautious at the moment。

Before establishing 188bet app download Meituan，Wang Xing’s relationship with the capital circle is not very good，The school failed to obtain financing in time and had to sell to Chen Yizhou，When Meituan was first established，Not considered the darling of capital among group buying websites，After the overall decline of the group buying industry，Meituan has just begun to receive investment of more than 100 million US dollars。

An investor expressed to Tencent Technology，Meituan’s current financing challenge is，The business model is basically unable to provide cash flow transfusion，After entering the vertical field of O2O，Expansion can only be achieved with large amounts of financing，But for the O2O industry，Burning money is not a long-term solution，Especially facing Baidu、Alibaba and other Internet giants that are investing heavily，Meituan has no advantages at all。

Behind Meituan’s financing doubts，There may be investors who are interested in the fierce competition，Hidden concerns about Meituan’s performance growth。

It’s worth noting，Meituan’s second round of financing scene，Wang Xing once posted the bill，6192 in account.$21.22 million balance，This has significantly increased the trust of Meituan’s partners。When Meituan’s financing is officially confirmed，Will Wang Xing still post the bills？

According to the latest news，Founder of Meituan、CEO Wang Xing issued a hush order internally，Will not speak out again in a short period of time。The background of this gag order is that Meituan is falling into financing doubts、Xingmei terminates cooperation、Negative rumors such as giants’ attacks。

Meituan’s “T Strategy” encounters impact

In several previous ventures，Wang Xing can always take the first step，But it always ends in failure，Also dubbed by the industry as “the most unlucky serial entrepreneur”。

Meituan started with group buying business，Finally became one of the lucky ones in the Thousand Regiment Battle，In the last days of 2013，Meituan announces profitability。

However, this profit has been interpreted by the 188bet app outside world as the death knell of the group buying industry，This is because Meituan launched four mobile products in 2013，Respectively for group purchases、Hotel、Markets in four segments of movies and restaurants。The keen Wang Xing proposed the "T strategy"，That is, using group buying business as the horizontal line，Vertically enter multiple segments。

But this transformation also means that Meituan has strong opponents in every field，Not to mention the original Dianping in the group buying field、糯米，In takeout、Hotel、There are some small giants competing in areas such as movie tickets。

Wang Xing started from entrepreneurship，Wang Xing started from entrepreneurship，The core team remains almost unchanged，Although there are occasional coincidences，But we can still get together in the end，However, in the past two years, there have been news of changes in Meituan’s senior official team and regional managers。

Some internal employees of Meituan expressed their opinions on Tencent Technology，The rumors of Maoyan CEO Shen Li’s resignation are highly credible，Shen Li had previously served as the general manager of Baidu’s LBS business unit，Entrusted with important tasks by Wang Xing，Even has a higher status than Wang Huiwen, who started the business together with Wang Xing。

A recent news may illustrate that Meituan’s “T strategy” has been impacted。

Starting from September 13th，Movie fans have discovered that they cannot buy movie tickets for Xingmei Cinemas in Maoyan Movies。On Maoyan Movie Software，6 Xingmei Cinemas in Beijing are indeed unable to purchase movie tickets，The same situation also occurs in Shanghai、In many movie theaters in Guangzhou。There are rumors in the industry that Maoyan movies were "banned by theaters"。

Maoyan aspect，Only due to business negotiations and system docking，Temporary suspension，The revelations on the Internet are exaggerated。Star America said the contract has expired，The two parties are still in the negotiation stage，More news will be notified later。

But behind the calm reactions of both parties is，Baidu strategic investment in Xingmei in June this year，And reached a business collaboration agreement with Xingmei，Baidu will open various resources to Xingmei，Including search map and mobile positioning, etc.，And provide comprehensive technical support。

Through in-depth cooperation，Baidu’s online movie ticket business will expand rapidly，The O2O e-commerce platform "Xingmei Life" created by Xingmei will also be rapidly launched with the help of Baidu's strong online resources。

Also，Baidu Nuomi launched the “Member+” strategy at the end of June，The slogan proposed is also to help theaters truly develop their own movie members，Improve users’ movie-watching stickiness and value-added consumption in theaters。

In the many new industries that Meituan has previously developed，Cat’s Eye is a very important cornerstone。But this time Xingmei is under the strong attack of Baidu，Choose to give up the cat eye，What about other theaters？

The more important question to ask is，After the movie，What about other industries？

According to the "China Life Services O2O Market Special Research Report" released by Analysys Think Tank，The year-on-year growth rate of Meituan’s full-platform transaction flow and group purchase transaction flow has slowed down across the board，And lagged behind Dianping and Baidu Nuomi for 6 consecutive months。

In addition，The data from Analysys Think Tank also shows，Meituan started in March 2015，Various data have begun to decline，Dianping、Baidu Nuomi has accelerated its growth since March。

According to the data of group 800，From July this year to now，Meituan’s market share has dropped from more than 60% to 50%，Overall down 10%。Meituan’s average daily trading turnover is about 2.500 million，Baidu Nuomi and Dianping both exceeded 100 million，The share exceeds 20%。

It is reported，Meituan’s share in first-tier cities has fallen particularly hard。A first- and second-tier city that Meituan was 188bet app download once proud of，Like Beijing，Fuzhou，Chengdu, etc.，Market share has dropped to about 40%。

The accuracy of this data is unknown，But Meituan continues to move forward in a situation surrounded by powerful enemies，The road ahead is destined to be full of thorns。