Dingdong Maicai CEO Liang Changlin sent an internal letter stating that the business and team will remain stable

Sina Tech News, February 5 evening: Today, Meituan announced that it will acquire 100% of Dingdong Maicai’s China business for approximately $717 million in initial consideration. Dingdong Maicai CEO Liang Changlin issued a “Letter to All Dingdong Maicai Colleagues,” stating that after the merger, Dingdong’s three core competitive advantages—extreme product quality,超预期的服务力, and the极致效率 built through the supply chain system—will not disappear because of the merger. Instead, they will play a greater role on a larger platform. Additionally, Dingdong Maicai and Meituan’s mission “Help everyone eat better, live better” aligns closely.

Regarding the impact of Meituan’s acquisition of Dingdong Maicai on company operations, Liang Changlin pointed out that Dingdong’s business and team will remain stable, and everyone will continue to have a very stable development platform. Below is the full internal letter from Liang Changlin:

Today, we officially signed the sale agreement with Meituan. I know this news may come as a surprise and cause questions and unease. So I want to share my thoughts with everyone.

1. The Path We Took

In 2017, when Dingdong Maicai was founded, Shanghai already had more than a dozen fresh produce e-commerce companies. We were the latest to enter. At that time, no one believed in us, but we found our own way—delivering live fish and live shrimp to homes, with 29-minute rapid delivery. We succeeded by delivering each order well and perfecting each product, surviving fierce competition.

In 2020, when the pandemic hit, we faced the challenge head-on and became a main force in supply assurance. I will never forget this scene: during the toughest days, a Dingdong courier passed through a community, and residents on the balcony cheered him on, shouting “Go Dingdong Maicai!” I watched that video many times, each time with tears in my eyes. That was not only encouragement for Dingdong but also recognition for each of us—showing that in the hardest times, we did not retreat.

In 2021, we successfully went public. Two months after listing, we decisively adopted the “efficiency first, scale second” approach. This decision caused us to lose some rapid expansion opportunities but saved the company’s life. By Q4 2022, we achieved profitability, and to date, we have maintained profit for 12 consecutive quarters. In this industry, we are among the first leading companies to be profitable, and we have been the only profitable one. I said at the earnings call: this proves that only by doing difficult, heavy, and right things can we follow the righteous path.

The path we took was forged together.

2. Why Choose Meituan

This decision was carefully deliberated by the board. I want to share my thoughts:

Dingdong has built a strong supply chain capability over the years—over 85% of fresh sources are direct procurement, with 12 self-operated factories and 2 self-operated farms. In the past year, our black pork accounts for over 37% of pork consumption; organic vegetables, LOWGI products, and healthy snacks all grew over 30% year-over-year; this winter, hotpot quick-cook dishes grew 28% year-over-year. These capabilities are the result of over eight years of painstaking refinement, step by step.

As a peer, Xiaoxiang Supermarket has also achieved strong growth in recent years by sourcing high-quality products and continuously improving user experience, quickly becoming an industry leader. This aligns well with our established “4G” strategy.

After the merger, Dingdong’s three core competitive advantages—extreme product quality,超预期的服务力, and the极致效率 built through the supply chain—will not disappear but will instead deliver greater value on a larger platform. We can serve a broader market together—making good ingredients as accessible as tap water, benefiting everyone.

This is the mission we wrote on our first day of entrepreneurship, and it aligns closely with Meituan’s mission “Help everyone eat better, live better.”

Looking ahead, we have made a more visionary decision: to put aside mutual competition and move toward working side by side. This is the convergence of two strong rivers, destined to flow into a broader ocean. Of course, we also understand that the river’s course may be winding, and this requires everyone’s joint effort.

3. About What Matters Most to Everyone

I know everyone’s biggest concern is about their jobs and future. Please rest assured that Dingdong Maicai’s business and team will remain stable, and everyone will continue to have a very stable development platform.

Moreover, Meituan’s business scope is very broad. This merger opens up greater career opportunities for everyone. In a rapidly growing enterprise, the sky is the limit, and the sea is wide for fish to leap.

Finally, I want to say:

Having been in Shanghai for 23 years, from a programmer writing code to the founder of Dingdong Maicai, my entrepreneurial journey has experienced many dark moments and many rebirths. The over eight years of Dingdong Maicai are the proudest moments of my entrepreneurial career. This pride does not come from going public or making profits but from every partner— from couriers riding through empty streets during the pandemic, to operators sorting at midnight, to product developers treating every vegetable and piece of meat as if it were on their own dining table, to engineers quietly optimizing algorithms behind the scenes.

Dingdong Maicai’s success today relies on every one of our partners.

A new chapter has begun. For a long time to come, I will continue to work with everyone. Let’s move forward together, with excellent people, and continue doing difficult but right things!