Xing Wang
Born 1979 · Age 46
Chinese internet entrepreneur; co-founder and CEO of Meituan (Meituan-Dianping). Serial founder of Chinese social and microblogging sites; led Meituan from group-buying clone to a multi-service local lifestyle platform and Hong Kong-listed company.
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Life & Career Timeline
Born in Longyan, Fujian, China
Wang Xing was born in Longyan, Fujian province. His family background includes a father who owned a cement factory.
Graduated from Tsinghua University (BEng in Electronic Engineering)
Received a bachelor's degree in electronic engineering from Tsinghua University.
Enrolled at University of Delaware (PhD program, Computer Engineering)
Enrolled in a PhD program in computer engineering at the University of Delaware (2001–2004).
Founded Youzitu (social network for Chinese students abroad)
A subsequent social networking site targeted at Chinese students overseas; the site eventually ceased operation.
Left University of Delaware with MS in Computer Engineering
Dropped out of the PhD program and left with a master's degree in computer engineering.
Returned to China to begin entrepreneurial career
After leaving graduate school, Wang returned to China to start technology ventures.
Founded Duoduoyou (social network, Friendster-style)
One of Wang's first startups — a Friendster-like social site aimed at Chinese university students; the service failed to take off.
Founded Xiaonei (Chinese Facebook clone)
Launched Xiaonei, a college-focused social network modeled on Facebook; the product achieved traction but encountered financial problems.
Sold Xiaonei (later rebranded Renren)
Due to financial difficulties, Wang sold Xiaonei to another entrepreneur; the new owners later rebranded it as Renren.
Appointed CEO of Fanfou
Served as chief executive officer of Fanfou from its founding in 2007 through 2010.
Founded Fanfou (Chinese Twitter)
Launched Fanfou (microblogging platform inspired by Twitter); became China's first major microblogging site.
Fanfou shut down by government censorship (approx.)
Fanfou was ordered shut by authorities over politically sensitive content; it was later permitted to reopen. (Wikipedia summary; exact shutdown date not provided in source.)
Stepped down as Fanfou CEO to focus on Meituan
Ended CEO role at Fanfou in 2010 as Meituan became his primary focus.
Founded Meituan (group-buying site) and became CEO
Established Meituan in 2010 (Groupon-inspired group-buying model) and has served as chief executive officer since January 2010.
Meituan-Dianping becomes China lifestyle leader
Post-merger, Meituan-Dianping expanded into food delivery, travel bookings, taxis, bike-sharing and other local services.
Meituan agreed to merge with Dianping ($15B deal)
Meituan and Dianping agreed to merge, creating Meituan-Dianping; Bloomberg reported the agreement as a $15 billion deal.
Meituan (Meituan-Dianping) IPO on Hong Kong Stock Exchange
Meituan-Dianping debuted on the Hong Kong Exchanges in September 2018; Wang is listed as co-founder, chairman and CEO in company materials around the IPO.
Named Chairman of Meituan at IPO debut
At the company's Hong Kong debut presentation, Wang was described as co-founder, chairman and chief executive officer.
Reported antitrust/monopoly probe into Meituan
Bloomberg reported an investigation into Meituan for suspected monopolistic practices by Chinese regulators.
Meituan benefits during COVID-19 pandemic (reported)
Forbes reported that Meituan's online meal deliveries boomed during the pandemic, benefitting the company's business and Wang's wealth.
Regulatory scrutiny following the poem
Following the post, Meituan came under scrutiny from the Beijing Municipal Human Resources and Social Security Bureau and an anti-monopoly probe from the State Administration of Market Regulation.
Shares plunged after poem; market cap wiped tens of billions
Meituan shares fell (7.1% same day); reporting indicates between ~$36.98B and ~$38.96B of market value was wiped from Meituan over subsequent weeks.
Posted Tang-dynasty poem on Fanfou sparking controversy
Wang posted a Tang Dynasty poem about book burning on his platform Fanfou, seen as a veiled criticism of government censorship.
Reported net worth (SCMP) ~US$20.3 billion
SCMP profile (May 24, 2021) reported Wang's net worth at approximately US$20.3 billion at time of writing.
Donated $2.3 billion stake to his philanthropic foundation
Wang donated a $2.3 billion stake in Meituan to his own philanthropic foundation, according to a stock exchange filing and Forbes reporting.
Meituan launches food delivery service in Hong Kong
Meituan expanded by launching its food-delivery service in Hong Kong — the company's first operations outside mainland China.
Forbes reports Wang's net worth at $9.3 billion
Forbes (Nov 29, 2023) reported Wang's net worth had fallen to $9.3 billion amid slower growth and market skepticism.
Forbes reports Meituan cost cuts and faster growth in Q1 2024
Forbes coverage (June 7, 2024) highlighted Meituan's faster-than-expected growth after cost cuts, underpinning a rally in the company's shares.
Forbes reports Wang's net worth jumped to $14.6 billion
Forbes (Nov 6, 2024) reported Wang's wealth rose 47% to $14.6 billion due to rising shares of Hong Kong-listed Meituan.
Key Achievement Ages
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