Chinese tech startup Meituan reveals $3 bn loss ahead of IPO
Meituan Dianping, world's fourth-most valuable tech startup, has revealed a net loss of $2.9 billion for 2017, ahead of its Hong Kong initial public offering (IPO). However, the startup more than doubled its revenue to $5.1 billion for the same period. While Meituan did not disclose its objectives, it is reportedly aiming to raise $4-6 billion at $60-billion valuation.