SINGAPORE (Oct 20): GIC, Singapore’s sovereign wealth fund, is investing in Meituan-Dianping as part of its latest US$4 billion (S$5.4 billion) financing round led by existing investor Tencent.
Meituan-Dianping is a one-stop services e-platform that connects 280 million annual active consumers with over five million annual active local merchants across a wide range of services and products.
The funds will be used to strengthen the company’s core business groups and enable continued investment in AI-based technology and innovation... (Click here to read the full story.)