China's restaurant review platform Dianping rejected an acquisition bid from Google China in 2007. The company's co-founder, Edward Long, recently revealed this secret during the TechCrunch/Technode event held in Shanghai. This was according to a report published by TechCrunch.
At that time, Google China offered less than USD100 million for the then four-year-old company. After Dianping turned down the offer, Google China instead invested a few million dollars in the company in a Series B funding round, the report said.
Aside from revealing the Google China rejection, Long also clarified some rumors about the company. Long said the rumors about Dianping preparing for an exit are false. He also denied reports that the restaurant review site is being offered USD2 billion for an acquisition by Chinese search engine Baidu, the report explained.
According to Dianping's Chief Executive Officer (CEO), Dianping plans to public five years from now. The company will have an estimated value of over USD10 billion by then, the CEO said. However, Long did not confirm this amount during the Shanghai event, TechCrunch said.
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