New regulation in China to hit food delivery giants’ profit model – TechCrunch
Between 2016 and 2020, the number of people who ordered food online in China doubled to 400 million. The boom was in part thanks to the generous subsidies shelled out by the country’s food delivery contenders for customers and businesses. As two companies, Meituan and Ele.me, came to dominate the market, they began to raise…