Wang Xing, founder of Meituan, showed that Meituan’s account balance in Silicon Valley bank was 61.92 million US dollars in 2011

According to the report, according to a message from Tech Planet, the founder of Meituan, Wang Xing, showed the balance of Meituan’s account in Silicon Valley bank in 2011, which was 61.92 million US dollars.

Interpretation of this information:

The message from Tech Planet reports that the founder of Meituan, Wang Xing, displayed the balance of Meituan’s account in Silicon Valley bank in 2011, which was 61.92 million US dollars. Meituan is a Chinese technology platform that provides services such as food delivery, hotel and travel booking, and movie ticketing, amongst others. This news comes at a time when Meituan has been expanding rapidly, taking on big players in their respective fields such as Didi in ride-hailing and Alibaba in e-commerce.

Looking at the amount of money that Meituan had in 2011, it is clear that the company has come a long way since then. The platform was founded in 2010, meaning that the company was only a year old when the balance was disclosed. This shows that even in its infancy, Meituan had amassed a significant amount of funds that would have been necessary for its growth and expansion.

The balance of the account also reveals that Meituan was already operating in the international market in 2011 by having an account in a Silicon Valley bank. This indicates that the company had global aspirations from an early stage, which was not something that was common amongst Chinese companies at the time.

Overall, this message highlights the impressive growth of Meituan over the past decade. From a balance of 61.92 million US dollars in 2011, the company has grown to become one of the biggest internet companies in China, with a market cap of over 250 billion US dollars as of September 2021.