Toutiao, Meituan and Didi (TMD) are China’s hottest unicorn start-ups – and tech giants Baidu, Alibaba and Tencent (BAT) have been instrumental in funding their growth. TMD firms were allowed to rise to prominence under BAT’s nose as stand-alone brands because they built businesses in areas the BAT companies had overlooked. But since 2016, as the two groups continued to expand into new markets, they have become fierce competitors. In an opinion piece on Huxiu.com, op-ed writer Michael Lin Mao charts the development of the TMD companies and hints that BAT and TMD are likely to get in one another’s way. While the the article is thorough on TMD’s development, it only touches on the entanglement of these six companies and the conflicts on the horizon. Nonetheless, getAbstract recommends this dramatic and entertaining read to entrepreneurs and investors interested in China’s latest business trends and to start-up founders who benefit from BAT investments.
In this summary, you will learn
Why unicorn start-ups Toutiao, Meituan and Didi (TMD) are in a tough position vis-à-vis Baidu, Alibaba and Tencent (BAT);
How TMD companies manage growth in a saturated and fiercely competitive tech market; and
Which pitfalls come with success when you go up against the BAT tech titans.
About the Author
Michael Lin Mao is an op-ed columnist with the Chinese business information platform Huxiu.com.