This article first appeared here.
China’s Super App Meituan Dianping just turned profitable. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for.
Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018.