Hi, I’m not following these companies WRT to their financial positions but I can give my two cents from the consumer’s point of view.
Meituan.com (started as “Groupon” of China) and Dianping.com (which means “review” in Chinese and dominate that market in China) used to be two companies and by no means were small players in their respective fields before the merging. Their CEO, Xing Wang, is a quite famous entrepreneur. He founded the “twitter” (FanFou.com) of China years ago but banned by the Chinese government (it’s still alive today but it lost its chance to go big because of the ban), for the obvious reason, and that’s essentially the start of the “Weibo.com” (listed on NASDAQ) as well.
It’s true that they entered the food delivery market after Baidu, but I think they are better positioned and they’ve got a much better CEO to execute their plan. Baidu used to be invested in a big competitor of Meituan, called “eleme” (“ele.me”, which means “are you hungry” in Chinese) but I think they sold their stake (not sure if it’s all of them or not) to Alibaba and started their own food delivery business.
I don’t order much takeaways when I’m back in China, but I do see Meituan’s delivery men much much more than Baidu’s. In fact I can’t remember seeing any of Baidu’s delivery men.
Baidu is pretty much known as just a “search engine” company in China and they’ve not been very successful in other areas and I think it’s largely down to their CEO being too comfortable and lack of competitions in their own market for too long.
US has “FANG” or “FAANG”, China has “BAT” (Baidu, Alibaba and Tencent). People have been saying that it should be just “AT” or something else + “AT” now. You can see why by just comparing the market cap of these companies.