Groupon

"Tencent’s co-founder and CTO, Zhang Zhidong, believed that Wang Xing’s understanding of group buying surpassed that of Tencent and Groupon. “In doing group buying, Wang Xing must be better than Jack Ma and Pony Ma. In this competition, the core team’s understanding is decisive. Good execution, cost, pace, order, all well-executed. When everyone was burning money, Meituan pursued the most economical, efficient, and sustainable way.”"

"In 2012, after two years of exploration, Wang Xing proposed the “three highs and three lows” theory of group buying, with a more independent understanding of group buying that even diverged from Groupon, the initial mentor of Meituan. Groupon is a high-margin, high-cost company, whereas Meituan is positioned to provide high-quality, low-cost services to consumers; for this, they achieve high efficiency and low cost; high technology and low margin."

"More typically, every venture he undertakes leads the wave of imitation in China’s internet scene. Renren, akin to Facebook, led the campus SNS wave; Fanfou, similar to Twitter, led the microblogging trend; Meituan, similar to Groupon, pioneered the group buying wave. His grasp of American internet trends is very accurate, and when transplanted to the Chinese internet, the products he made were outstanding. There is a lot of replication of foreign websites in the Chinese internet, many people only jump in when they see someone doing it successfully. Discovering an opportunity first once may be luck, but Wang Xing being the first every time is quite intriguing."