Meituan, China’s largest on-demand local services provider, said its 7.45 million delivery workers drew 80 billion yuan (US$11.3 billion) in total income from the platform last year, company co-founder and chief executive Wang Xing said in an internal letter on Tuesday. About 4.5 million of those delivery workers are also covered with insurance for occupational … Read more
The fictional Jarvis – an acronym that stands for “Just a Rather Very Intelligent System” – is a sophisticated AI assistant that made its debut in the 2008 film Iron Man, in which it manages and operates the internal systems of Stark’s laboratory, home and superhero armours. Ant Group, the fintech affiliate of Alibaba Group … Read more
Meituan, China’s biggest on-demand services provider, on Thursday reported a higher-than-expected 25 per cent year-on-year increase in first-quarter revenue, boosted by gains from its core local commerce operations led by food delivery. The Beijing-based company posted revenue of 73.3 billion yuan (US$10.1 billion), up from 58.6 billion yuan in the same period last year, as … Read more
The company’s foray into Riyadh will pit Meituan against local rivals including Jahez International Co, Delivery Hero’s Talabat and HungerStation and Uber Technologies-backed Careem. The move comes as Saudi Arabia, already the region’s biggest economy, devises plans to invest trillions of dollars to become a tourism and commercial hub. The skyline of Riyadh, the capital … Read more
“In the future, internet companies need to be more open-minded and inclusive to promote truly win-win cooperation in the industry,” the Securities Times article said. Increased collaboration between China’s major internet companies are expected to not only benefit consumers, but help further expand the industry, according to state media. Photo: Shutterstock While China’s gross domestic … Read more
