E58: Why Meituan CEO takes over overseas businesses?

Meituan has had a very challenging 2023, with its falling share price and intense competition from both Douyin and Pinduoduo. 

 

Last Friday (2 Feb), Meituan founder and CEO, Wang Xing, announced in an internal email an organisational restructuring that will integrate a number of businesses related to core local commerce and further raise the priority of technology and internationalisation-related businesses. 

 

Notably, as part of the restructuring, CEO Wang Xing announced that he will directly oversee overseas operations and drone delivery. 

 

Tune in to the latest episode of the Impulso Podcast, as we explore the strategic changes made by Meituan and its implications, as well as draw comparisons with Alibaba's own restructuring efforts. 

 

Featured materials: 

Meituan CEO Takes Over Overseas Business as China Sales Wane, Bloomberg

Food delivery platforms in Southeast Asia 2024, Momentum Works

Transforming Alibaba, Momentum Works

Why does Alibaba replace Taobao CEO?, the Impulso Podcast

Seeing the Unseen: Behind Chinese Tech Giants' Global Venturing, Guoli Chen and Jianggan Li