DST Global fund becomes a co-investor in a record $3.3 bln startup round

DST Global fund becomes a co-investor in a record $3.3 bln startup round
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      Meituan-Dianping, a Chinese startup, dealing with online cinema ticket sales and restaurant booking services, has just raised a striking amount of investments within one separate round – $3.3 bln. DST Global, a famous VC fund, working with early stage ventures, later stage ventures, private equity investments and founded by Yuri Milner, also participated in this huge deal, though exact amounts of co-investors are not disclosed.
      Tencent Holdings and Temasek Holdings, located in Asia, are among the other investors in Meituan-Dianping. It is worth mentioning that Meituan-Dianpin investment amount exceeds the record round of so far the most expensive startup Uber, having raised $1.6 bln (according to CB Insights) and valued at $62.5 bln. Plus this is a record deal for the Chinese market. Previously, another startup, known as Didi Kuadidi, attracted $3 bln in September 2015.
DST Global fund becomes a co investor in a record $3.3 bln startup round
      Meituan-Dianping entered the market in October 2015 as a merger result of the two competing startups in China – Meituan and Dianping. Meituan is the biggest online coupon sales platform in China, founded in 2010 and having raised more than $1 bln in total. Dianping used to be the largest Chinese platform for services, connecting Internet users with the representatives of offline companies (O2O), and later started to provide booking services for restaurants, conduct discount ticket sales and food delivery. Like Meituan, Dianping also attracted big money amounts from local Internet market players.
      For DST Global this deal is not the first big transaction. Yuri Milner already invested in such companies as Facebook, Twitter, Alibaba and Groupon. In August 2015, several media sources reported the settlement of a new fund DST Global V, when Milner attracted $1.7 bln from foreign investors.

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