Meituan-Dianping acquires VC-backed Chinese payment player
Meituan-Dianping, the China-based online-to-offline (O2O) services platform created through the merger of two rival groups, has agreed to acquire Qiandaibao, a VC-backed point-of-sales (POS) mobile payment start-up.
The transaction will facilitate an exit for Qiandaibao's existing backers, including Banyan Capital, IDG Capital Partners, Haitong Securities and Jiangxi Copper, the largest copper producer in China. Following...
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