GROUP buying is still hip in China. Or that's what Meituan Dianping and its investors must believe.
Backed by Tencent Holdings Ltd, the buying-cum-restaurant-review service is back in fundraising mode and may secure as much as US$5bil, Bloomberg News's Lulu Chen reported on Wednesday. If the round comes in at the top of the valuation range, Meituan Dianping would leapfrog Airbnb Inc to become the world's fourth-largest unicorn, according to CB Insights.
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