Chinese on-demand service giant Meituan has signed a US$1 billion deal to expand its Keeta food delivery platform to Brazil, following successful launches in Hong Kong and Saudi Arabia.
The company said it would introduce Keeta to Brazil “in the coming months” and invest US$1 billion in the South American country over the next five years. The agreement was signed at an event on Monday in Beijing, where Meituan is headquartered. Visiting Brazilian President Luiz Inácio Lula da Silva attended the ceremony.
A photo of Lula with Meituan founder Wang Xing, 46, has gone viral on Chinese social media, partly because the tech entrepreneur, who has an estimated net worth of US$11.7 billion, has largely stayed out of the public eye in recent years.
Wang said Brazil represented a significant market with immense potential, and Meituan was committed to “improving the consumer experience, helping our restaurant partners grow their business and providing delivery opportunities for couriers”.
Keeta plans to establish a national delivery network and support the growth of local food and drink merchants with “diversified marketing and digital operational tools”, according to Meituan.
