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Xing 王兴
Cofounder and CEO at meituan.com
Xing Wang (王兴) is a prominent Chinese entrepreneur and the co-founder and CEO of Meituan (美团), one of China's leading e-commerce platforms for services.12 Born on February 18, 1979, in Longyan, Fujian, China, Wang has established himself as a successful serial entrepreneur.23
Education and Early Career
Wang received his bachelor's degree in electronic engineering from Tsinghua University in 2001.12 He then pursued graduate studies at the University of Delaware, where he enrolled in a Ph.D. program in computer engineering from 2001 to 2004 but left with a master's degree.2
Entrepreneurial Journey
After returning to China, Wang embarked on his entrepreneurial career:
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Early Ventures: He created several social networking sites, including Duoduoyou and Youzitu, which were unsuccessful.34
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Xiaonei (校内网): In 2005, Wang founded Xiaonei, a Chinese version of Facebook for college students. Despite its popularity, financial difficulties led to its sale. It was later rebranded as Renren.24
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Fanfou (饭否): In 2007, Wang launched Fanfou, China's first major microblogging site, inspired by Twitter. It faced government shutdown but later reopened.23
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Meituan (美团): In 2010, Wang co-founded Meituan, initially a group-buying platform inspired by Groupon.12 Under his leadership, Meituan has expanded into various services, including food delivery, hotel bookings, and travel services.4
Achievements and Recognition
- Wang has led Meituan to become a major player in China's tech industry, with the company controlling over 60% of the food delivery market.3
- He ranked 16th on Forbes' China's Rich List in 2020.4
- As of 2021, Wang's net worth was estimated at around $20 billion.4
Recent Developments
In 2024, Wang took direct control of Meituan's overseas businesses and drone delivery operations as part of a strategic restructuring to counter slowing growth in China and expand globally.56