What Drives Wang Xing’s Relentless Startup Success? Lessons from Meituan’s Founder

Wang Xing’s entrepreneurial saga reads like a chronicle of China’s internet evolution, spanning portals, search, e‑commerce, O2O, and bike‑sharing, culminating in Meituan’s imminent Hong Kong IPO.

Born in 1979 in Longyan, Fujian, Wang grew up in a modest yet business‑savvy family; his father’s cement ventures instilled a keen sense of market timing that later fueled Wang’s ventures.

After graduating from Tsinghua University’s Electronic Engineering department, Wang co‑founded the campus social network Xinnet (later Renren) in 2003, selling it for over ¥10 million. He then launched a series of experimental projects—smart wristbands, custom T‑shirts, and the early social platform “Duoduo You”—each lasting about two months before being abandoned.

Inspired by Facebook’s success, Wang and his teammates built Xinnet, which eventually merged into Renren. Subsequent attempts like the micro‑blogging site Fanfou and the professional network HaiNei failed to gain traction, teaching him the importance of patience and strategic focus.

In 2007, Wang founded Meituan, entering the fiercely competitive group‑buying market. By emphasizing localized services and a cash‑rich, low‑burn model, Meituan avoided the capital‑intensive “burn‑money” race and grew sustainably.

Wang’s philosophy, shaped by his Tsinghua background, frames China’s internet as entering a “second half” where refined, value‑added services replace the early‑stage growth frenzy. He stresses that success requires not only talent but enduring patience and relentless effort.

Key lessons include recognizing opportunities early, maintaining financial discipline, and persisting through repeated failures—principles that underpin Meituan’s rise to a multi‑billion‑dollar enterprise.