China's Meituan-Dianping raises over $3.3 billion in funding round
BEIJING (Reuters) - Chinese Internet company Meituan-Dianping, akin to a mix of Yelp, GroupOn and food delivery, said on Tuesday it has raised more than $3.3 billion in a funding round, as the firm takes on a slew of rivals in a fiercely competitive domestic market.
A spokeswoman confirmed the news to Reuters but declined to disclose details on Meituan-Dianping's valuation.
The company was formed in October when Meituan, backed by Alibaba Group Holding Ltd , and Dianping, which is backed by Tencent Holdings Ltd <0700.HK>, merged.
In November, The Wall Street Journal and Financial Times reported that Alibaba is seeking to sell its stake in the firm.
(Reporting by Paul Carsten; Editing by Sherry Jacob-Phillips)
