Zomato’s Chinese Counterpart Dianping to Soon Close $850M in Funding

Image Source: Acumen.org

Image Source: Acumen.org

Chinese site for reviews of restaurants and other local businesses, Dianping will soon complete a $850 million funding round from investors include Singapore’s Temasek Holdings, Chinese property giant Wanda Group, and Hina Group, along with some of the company’s previous investors.

In 2014, Chinese web company Tencent took a 20 percent stake in Dianping. Its previous funding includes $64 million series D round from Sequoia Capital, Capital Today, and EZ Capital in 2012, $100 million series C round from Sequoia Capital, Qiming Venture Partners, and Lightspeed Ventures in 2011, $25 million series B round from Google Ventures and Sequoia Capital in 2007 and $2 million series A round from Sequoia Capital in 2006.

Dianping provides detailed merchant information, consumer service rating services, and featured promotions to its users. It has nearly 75 million monthly active users, over 28 million reviews, and more than 6 million local businesses covering approximately 2,300 cities across China. Founded by Tao Zhang and co-founded by Jason Li, Bo Zhang, Shuhong Ye, and Edward Long, Dianping launched in April 2003 in Shanghai.