Meituan has become the largest food delivery service provider in Hong Kong with more than 40% share of the market since its debut in the city a year ago, thanks to generous subsidies and rapidly expanding services, reports Caixin. KeeTa, Meituan’s Hong Kong focusing platform captured 44% of Hong Kong’s food delivery orders in March, surpassing rival Foodpanda’s 35% to become the top player, according to market data provider Measurable AI.
Beijing-based Meituan launched KeeTa in Hong Kong in May 2023 as the food delivery giant’s first major foray outside the Chinese mainland. Its service initially limited to the neighborhood of Mong Kok in the heart of the city.
As of October, KeeTa has expanded its services to the entire territory, joining a full-swing competition with rivals Deliveroo Plc and Delivery Hero SE’s Foodpanda.