Meituan to acquire Dingdong Fresh Holding from Dingdong for $717m.

Meituan, a web based shopping platform, agreed to acquire Dingdong Fresh Holding, a holding company, from Dingdong, a self-operated freshness platform and a life service app that provides distribution services, for $717m. "Since its founding, Dingdong has been driven by the vision of redefining the traditional fresh food industry through the deep integration of digital technology and supply chain innovation. We have always adhered to our founding mission of 'Empowering Everyone to Eat Better, Live Healthier'. From direct sourcing at the origin, the efficient operation of our frontline stations, to the last-mile delivery service, every step of our operations is dedicated to enhancing the quality of life of our consumers. We believe that this unwavering commitment is aligned with Meituan's company mission of 'Helping People Eat Better, Live Better', laying a solid foundation for the strategic merger between the two companies," Changlin Liang, Dingdong Founder, Director and Chief Executive Officer.