Early Life and Education
Wang Xing was born on February 18, 1979, in Longyan, Fujian, China. He received a bachelor's degree in electronic engineering from Tsinghua University in 2001. He then pursued a master's degree in computer engineering at the University of Delaware, though he did not complete the Ph.D. program.
Rise to Success
After returning to China, Wang launched several internet ventures. He founded Duoduoyou, a social networking site, followed by Youzitu. In 2005, he created Xiaonei, a social networking site similar to Facebook. He also founded Fanfou, a microblogging platform. In 2010, Wang founded Meituan, a group-buying website inspired by Groupon. Meituan merged with Dianping in 2015, becoming Meituan-Dianping, and went public on the Hong Kong Stock Exchange in September 2018. The company was renamed Meituan in 2020. Under Wang's leadership, Meituan has become a leading platform for local services, including food delivery, hotel bookings, and various lifestyle services.
Key Business Strategies
Meituan's success is attributed to its 'Retail + Technology' strategy. The company focuses on digital upgrading and has continuously increased R&D investment in new technologies. Meituan's Smart Dispatch system, introduced in 2015, has reduced average delivery times and optimized efficiency. In recent years, Meituan has been expanding internationally, including launching Keeta in Saudi Arabia.
Philanthropy
In 2021, Wang Xing transferred company stock valued at $2.3 billion to his personal Wang Xing Foundation, which focuses on education and scientific research.
