Alibaba’s Koubei Invests In Restaurant Booking App Maker

Chinese Internet giant Alibaba's local-services platform, Koubei, has teamed up with Chinese RMB fund Zhongshi Capital to invest in Meiweibuyongdeng, a mobile app that helps restaurants better manage their bookings and customer wait times.

The financial details of the investment were not disclosed, according to an announcement. The company said the series C+ round values the start-up at RMB3 billion (US$433 million).

Founded in 2013, Meiweibuyongdeng provides solutions to restaurants allowing customers to automatically take a waiting number and to be away during their wait. Many restaurants in China have long queues during peak hours. Meiweibuyongdeng, which operates via and mobile apps, offers restaurants an solutions to managing their customer fl...

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