Software, Telecom & Wireless

Restaurant Management App Gains Investment Via Alibaba Subsidiary

Chinese more Chinese going out to eat, restaurants are under pressure to ensure reservation booking are handled efficiently. Meiweibuyongdeng's mobile app hopes to solve this problem.

Alibaba's local-services platform, Koubei, and Zhongshi Capital reportedly invested in Meiweibuyongdeng, a mobile app that helps restaurants better manage their bookings and customer wait times.

The financial details of the investment were not disclosed, according to an announcement. The company said the series C+ round values the start-up at RMB3 billion.

Founded in 2013, the company says to date it has served 60,000 popular restaurants in 200 cities. It has 10 million mobile app users and 20 million followers on its Wechat account, where the company also offers similar services.

Meiweibuyongdeng says it plans to use the latest proceeds on product promotion, marketing and new product development.

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