Meituan’s International Food Delivery Service, Keeta, Launches in Saudi Arabia

According to the official Keeta app, Meituan‘s international version of its food delivery service, Keeta is set to launch in Saudi Arabia at 11 a.m. local time on September 9th. This marks Keeta’s first venture outside of China.

Last year in May, Meituan launched its new food delivery brand, KeeTa, in Hong Kong. Initially serving the Mong Kok and Tai Kok Tsui districts, it gradually expanded its reach to include Kowloon, Hong Kong Island, and the New Territories. As of October 25th of the same year, KeeTa achieved full coverage across Hong Kong.

Data released by the market research firm Measurable AI in May showed that by March 2024, KeeTa had secured a 44% market share in terms of order volume, making it the top food delivery platform in Hong Kong.

Meituan‘s financial report for the second quarter of 2024 revealed a revenue of 82.25 billion yuan, reflecting a 21% growth from the previous year. The adjusted net profit was 13.6 billion yuan, marking a 77.6% increase year-on-year.

In terms of business performance, during the second quarter of 2024, Meituan‘s core local business revenue grew by 18.5% year-on-year to reach 60.7 billion yuan. Operating profit increased by 36.8% year-on-year to 15.2 billion yuan, leading to an operating profit margin of 25.1% for the quarter, a year-on-year increase of 3.3 percentage points.

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