Meituan Dianping posts loss as outbreak weighs down on-demand business

www.reuters.com

After three consecutive profitable quarters, it said the loss for the first quarter ended March 31 was 1.58 billion yuan ($221.27 million), compared with a 1.43 billion yuan loss for the year earlier period.

Still, Meituan has weathered the storm in China better than many expected. That includes hatching new services, a move that could stand it in good stead for the future. It is certainly the business on-demand services want to emulate—Uber who?—and that showed as it reached a $100B valuation last week.

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