Baidu Denies Meituan Merger Rumors Again
Yicai Global
/SOURCE : Yicai
Baidu Denies Meituan Merger Rumors Again

(Yicai Global) Sept. 6 – Recent market speculation claimed that Baidu Takeaway and Baidu Nuomi would be packaged and sold to Meituan and that the deal was nearly concluded. Yicai Global were told today this was a rumor, by Mr. Zeng Liang, the general manager of Baidu Nuomi. Meituan-Dianping has not responded.

Baidu Takeaway did contact Meituan-Dianping, but no agreement was reached due to price and equity issues, insiders disclosed.

There were reports in early August that Baidu Takeaway and Baidu Nuomi would be sold to Meituan. Both Baidu Takeaway and Baidu Nuomi denied the reports then, and Baidu Nuomi even posted an announcement on its official Weibo account, saying that such reports contained gross inaccuracies.

Baidu Inc. [NASDAQ:BIDU] is the world's largest Chinese-language website and search engine. Baidu Takeaway is a dedicated food delivery platform set up by Baidu providing convenient and quick online food delivery services to clients. Baidu Nuomi is a group-buying app providing information and services, including food, films, hotels, KTV, food and home delivery.

Meituan-Dianping is the new company created through the merger of the Meituan and Dianping websites in October of last year. Meituan and Dianping retain their respective brands and operate their businesses independently, which include group-buying and special in-store services, such as voucher cards.

Dianping.com was set up in Shanghai in April 2003, becoming the world's first independent third-party consumer review site. Dianping.com not only provides merchant information, consumer reviews, discounts and other information services to users, but also offers group-buying, restaurant reservation, food delivery, electronic membership cards and other online to offline transaction services.

Set up on March 4, 2010, Meituan.com is a group buying service owned by Beijing Sankuai Technology Co. Its sales exceeded CNY46 billion in 2014, with a market share of over 60 percent, according to its website.

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