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LoginMessage on December 22nd,There are media reports,Meituan-Dianping’s new round of financing has been completed,Financing amount is US$2.8 billion。The name of the new company after the merger with Meituan-Dianping is CIP (ChinaInternet Plus Holding Ltd),Overall valuation 15 billion US dollars
As early as the Wuzhen Summit on December 17,Meituan-Dianping CEO Wang Xingzeng said,Meituan-Dianping’s financing news is expected to be announced within a week。188bet app Wang Xing also said,No official news about Alibaba selling old Meituan shares yet。
Meituan-Dianping plans to raise US$3 billion through issuance of Class B preferred shares,Accounting for 16 of the total equity after financing.67%,Estimated post-financing valuation of US$18 billion。As of mid-December this year,Meituan-Dianping has completed US$2.8 billion in financing。
Meituan-Dianping is raising US$2.8 billion,Includes Tencent’s US$1 billion,DST 3.USD 500 million,1 from Sequoia Capital.USD 500 million,CICC and Capital Today invested a total of US$1.3 billion。It was revealed,Meituan-Dianping continues to raise funds,The final financing amount will exceed US$3 billion。
Meituan-Dianping will operate independently within one year,Business operations will not be merged,There is only certain synergy in subsidies。But Dianping’s business focus in the future will be low frequency、High customer unit price business,Like a wedding、Exhibitions, etc.,No longer participate in high frequency、Price war in the field of low customer unit price、Subsidy war。Vice versa,Meituan will be responsible for high-frequency businesses such as catering。
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After experiencing many twists and turns,Meituan-Dianping, whose financing rounds have all passed Series D,It is expected that the listing process will be launched in the next 2-3 years,Investors can 188bet app exit through the listing of the company。
However,Meituan-Dianping signed a gambling agreement with new investors,Requiring Class B preference shares issued by the company,Enjoy preferential repayment rights compared with previously issued preference shares。
If exit from IPO,The stock issuance price is lower than 1% of the purchase price of Class B preferred shares in this round of financing.2 times,The equity conversion can be used to make up for the current round of Class B preferred stock investors being less than 1.Remainder of 2x investment return,Guaranteed 20% investment income。
If Meituan-Dianping is liquidated or acquired,Investors of Class B preferred shares will receive priority 1 of the investment amount.2x return。In addition,Provisions of Agreement,An IPO with a post-financing valuation exceeding US$20 billion is considered a valid IPO,The preferred shares will be automatically converted into ordinary shares at that time。
Analysis,Meituan Dianping’s move is mainly to prevent the interests of investors who enter later from not being protected。Previously,Square’s experience pours cold water on Meituan-Dianping’s financing,Investors 188bet sports betting app download once valued Square at $6 billion,But the market value of Square after it went public was only US$4 billion。
Meituan Dianping’s move also indirectly inhibits Alibaba from selling old shares。There are recent rumors,Alibaba is selling its shares in Meituan-Dianping,However, this part of Alibaba’s shares does not enjoy the protection of the above-mentioned investor entry terms。
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