Meituan, China’s Leading Group Deals Site, Raises $700M At $7B Valuation

 Meituan, a group deals site sometimes described as “the Groupon of China,” has raised $700 million at a $7 billion valuation. The company announced the funding on its Weibo page and during a press conference in Beijing on Sunday, but did not disclose its investors. Previous backers include Alibaba Group and Sequoia Capital China. Read More