No Free Lunch: China’s Takeout War Wraps Up Without a Winner
For much of this year, China’s three food delivery giants waged an aggressive subsidy war, pouring billions into deep discounts and seasonal promotions to seize market share and lure delivery riders. But last week, all three companies — Meituan, Ele.me (now Taobao Flash), and JD.com — disclosed steep third-quarter losses,…
bubmagDecember 2, 2025