GGV Capital’s Hans Tung and Zara Zhang interview Tao Zhang, the founder of Dianping, a lifestyle services company that is often known as “the Yelp of China” but is much more than that. In 2015, Dianping merged with the group buying giant Meituan. The new company, Meituan-Dianping, is now worth $30 billion and is the fourth most valuable startup in the world. Why did Tao want to put restaurant reviews online, before Yelp was even started? How did Tao survive the “thousand-Groupon war” that seized China’s internet scene in the early 2010s? How do you approach a merger between two multi-billion dollar companies? How should startups in China think about strategic investments from giants like Tencent and Alibaba?
We’d love to hear your feedback! Please send comments and suggestions to [email protected]. GGV Capital also produces a weekly email newsletter in English, also called “ 996,” which has a roundup of the week’s most important happenings in tech in China. Subscribe at 996.ggvc.com.
The 996 Podcast is brought to you by GGV Capital and co-produced by the Sinica Podcast. On this show, we interview movers and shakers of China’s tech industry, as well as tech leaders who have a U.S.-China cross-border perspective.
GGV Capital is a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 29 IPOs and 22 unicorns. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.