Home Fairfield Priceline invests $450M in Chinese e-commerce resource

Priceline invests $450M in Chinese e-commerce resource

Priceline has invested $450 million in Meituan-Dianping, a Chinese e-commerce platform that is expanding into hotel reservations, ride-hailing services and restaurant bookings. The investment is part of a $4 billion total raised by the Beijing-based company in a new Series C financing round.

Meituan-Dianping was created in a merger between Meituan, a food delivery and group

priceline todd henrich e-commerce
Todd Henrich

buying company, and Dianping, a restaurant review app. The company claims to be China’s third-largest online consumer marketplace, with 260 million customers. Priceline has been a presence in the Asian market since 2007 through its acquisition of Agoda Co., a Bangkok-headquartered online travel company specializing in hotel discount bookings throughout the continent. The Norwalk-based Priceline identified its investment as the start of a new partnership with Meituan-Dianping.

“We are excited to support Meituan-Dianping, the well-recognized leader in China’s local services industry,” said Todd Henrich, global head of corporate development at the Norwalk-based Priceline. “Our commercial relationship between Agoda.com and Meituan-Dianping will help each company benefit from the other’s expertise and capitalize on the opportunities presented by China’s exceptionally large travel market.”

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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