Wang Xing
Wang Xing | |
|---|---|
| Born | February 18, 1979 Longyan, Fujian, China |
| Occupation | Entrepreneur |
| Years active | 2005–present |
| Known for | Co-founder and CEO of Meituan; founder of Fanfou, Xiaonei |
Wang Xing (; born 18 February 1979) is a prominent Chinese entrepreneur, serving as the co-founder and chief executive officer of Meituan since January 2010. Prior to this role, he was the CEO of Fanfou from 2007 until 2010.
Early life and education
Wang was born in 1979 in Longyan, Fujian, China. He completed his undergraduate studies in electronic engineering in 2001. Subsequently, he pursued doctoral studies in computer engineering at the University of Delaware between 2001 and 2004 but departed with a master's degree instead of completing the PhD.
Business career
Upon returning to China, Wang initiated multiple technology startups influenced by Western social networking models. His initial project, Duoduoyou, aimed at Chinese university students, failed to attract a substantial user base. He then established Youzitu, targeting Chinese students studying overseas, which eventually discontinued operations.
In 2005, Wang launched Xiaonei, designed as a Chinese counterpart to Facebook. Although it gained traction, financial difficulties led to its sale; the platform was later rebranded as Renren. In 2007, he introduced Fanfou, recognized as China's pioneering major microblogging service inspired by Twitter. Despite early momentum, government-imposed suspension and competition from platforms like Sina Weibo and Tencent Weibo resulted in diminished market presence.
Wang founded Meituan in 2010 as a group-buying website modeled after Groupon. The platform experienced rapid expansion and merged with Dianping in 2015, forming one of China's leading online-to-offline service enterprises.
Politics
On 3 May 2021, Wang shared a Tang Dynasty poem concerning book burning on Fanfou, a social media site under his ownership. Quartz News interpreted this act as an indirect criticism of the Xi Jinping Administration's suppression of civil society and constraints on academic freedom. The poem titled "Book Burning Pit" alludes to Emperor Qin Shi Huang's eradication of scholars and literary works, followed by his downfall at the hands of unlettered insurgents.
Following this publication, Meituan's stock price declined by 7.1% that day, leading to a loss of $36.98 billion in market capitalization over the subsequent weeks. Additionally, the company underwent investigations by the Beijing Municipal Human Resources and Social Security Bureau as well as an anti-monopoly probe by the State Administration for Market Regulation—actions Bloomberg News associated with political repercussions stemming from Wang's commentary.