Meituan acquired Mobike for $2.7 billion

Beijing. April 5. Silkroadnews - Meituan-Dianping, the largest on-demand service provider in China, has bought Mobike, a bike sharing company, China Plus reports.
The deal will expand Meituan’s business, including group purchases, delivery of food products and, more recently, passengers transportation.
The deal costed Meituan $2.7 billion. A report by the business publication Caixin says, the deal has been brokered by Pony Ma, CEO of Tencent, which is a shareholder in both Meituan and Mobike.
The deal was reached after e-commerce giant Alibaba took over online food ordering platform Ele.me, Meituan’s major competitor, for 9.5 billion US dollars a day earlier.
Meituan started a strategic partnership with Mobike in 2016. Last September, Mobike built its service into the Meituan application so that users could enter the Mobike service through the Meituan application.