China Tech Newsletter – April 24, 2015

The On-demand Laundry Service on Meituan App
The On-demand Laundry Service on Meituan App

Meituan, the leading group-buying service, has tapped into the on-demand services sector with the launch a marketplace named Shangmen (“coming to your doorstep”).

Shangmen has been added onto Meituan’s flagship app with categories including laundry, car wash and maintenance, beauty treatment and home services. Several startups, Dudumeijia (manicure), ejiajie (house cleaning), Yunjiazhen (housekeeping) and Ganji Yixiche (car wash) have got on board. Meituan currently doesn’t charge any commissions or other fees.

Meituan is also able to offer food delivery through its in-house developed app Meituan Waimai.

Shangmen’s major competitors will include 58 Daojia, the on-demand services marketplace established by the leading classified ad site 58.com. 58.com invested US$600 million in developing or investing in on-demand services last year. JD.com, the leading online retailer, will reportedly launch its on-demand platform soon.


Speaking of Meituan, its movie ticketing app Maoyan (“Cat’s eye”) sold some 30 million movie tickets last month (March).

More than 50% of movie tickets in China are sold online, according to Wang Xing, CEO of Meituan. The company believes it has a 70% share in China’s online movie ticketing market.


Ant Financial Services Group, Alibaba’s finance arm, has acquired 60.8% of Fund123.cn, a mutual fund “supermarket”, for RMB199 million (about US$32m).

Fund123.cn made RMB31 million (about US$5m) in revenues in 2014, with a net loss of RMB12.5 million (about US$2m).


Restaurant software & hardware solution developer Keruyun has raised funding from Baidu and Tianxing Capital. The company’s revenue sources include device subscription fees and transaction fees on mobile orders.


Youdao Dictionary, the dictionary service of NetEase launched in 2007, announces 500 million users.

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