Early Life and Education
Wang Xing was born in Longyan, Fujian, China, in 1979. His father was an entrepreneur who owned a cement factory. Wang received a bachelor's degree in electronic engineering from Tsinghua University in 2001. He then pursued a master's degree in computer engineering at the University of Delaware, completing his studies in 2005.
Rise to Success
Wang began his entrepreneurial journey by creating Chinese versions of Friendster and Facebook. In 2005, he created Xiaonei, a campus-focused social network. In 2007, he created Fanfou, China's first big microblogging site. In 2010, Wang co-founded Meituan. Meituan started as a group-buying website, inspired by Groupon. The company merged with Dianping in 2015. Meituan went public on the Hong Kong Stock Exchange in September 2018.
Key Business Strategies
Wang Xing's strategic vision and adaptability have been crucial to Meituan's success. Meituan has expanded beyond group buying into food delivery, hotel bookings, and various lifestyle services. The company's focus on innovation, customer service, and adapting to market changes has driven its growth. In 2024, Meituan's reported revenue was $46.959 billion.
Philanthropy
In 2021, Wang Xing transferred shares worth $2.3 billion to his charitable foundation, the Wang Xing Foundation, to support education and scientific research.