Chinese food-delivery giant Meituan to debut in Saudi Arabia’s capital Riyadh as international expansion quickens
- Meituan is said to be working to launch its KeeTa app in the Middle East, with Riyadh as the first stop
- The firm’s Middle Eastern approach is likely to rely on a familiar subsidy-heavy strategy to draw in users and delivery workers at the outset
A Riyadh debut could mark a broader foray into a friendlier region that Chinese companies have warmed towards, as their home economy buckles.
Meituan’s Middle Eastern approach is likely to rely on a familiar subsidy-heavy strategy to draw in users and delivery workers at the outset. As with Hong Kong, the firm is likely to roll out its KeeTa platform in phases and target certain districts to begin with.
The company has already posted at least a dozen KeeTa job openings for Riyadh on LinkedIn and its own website, including for user acquisition and business development.
While Meituan has spent months devising a blueprint for entry, plans could still change and the company could decide to hit pause on any expansion. The company has explored other Middle Eastern markets in the meantime.
Representatives for Meituan did not respond to an email seeking comment.
KeeTa – a nod to the fast-moving cheetah – was launched by Meituan last May and took just months to vault to the No 2 spot in Hong Kong, ahead of Deliveroo, according to independent research.
Wang said during the company’s earnings call in March that Meituan was actively exploring international expansion, and that the firm’s cash reserves and cash flow from its domestic business would help it break into new markets.
Like its peers, Meituan has been looking outside its home turf for growth during China’s severe economic downturn, including at one point considering an acquisition of Delivery Hero’s business in Southeast Asia.