Meituan Dianping is the world’s largest food delivery company but few global investors could even pronounce its name before its roadshow kicked off last week — a pickle for an issuer aiming to raise up to $4.4bn.
The Beijing-based company helpfully describes its business model as an amalgam of the US food delivery site Grub Hub, rolled together with Yelp, the reviews site, the hotel site Booking.com, retailer Whole Foods, the room-booking site Airbnb and several other consumer services sites.
But its 700-plus page prospectus brings to mind a different US peer: Amazon.
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