Beijing-based Meituan, which offers services ranging from movie ticketing, food delivery to hotel and travel booking as well as ride-hailing, was valued at around $30 billion in a fundraising round late last year.
The company, backed by Tencent Holdings Ltd, is spending heavily to fend off a slew of rivals aligned with Tencent rival Alibaba.
Tencent Holdings posted its biggest profit drop in a decade after it ran afoul of regulatory tangles, while Facebook and Twitter grappled with fundamental issues such as waning user growth.
Taiwan is China's most sensitive territorial issue and Beijing, which considers it a wayward province, has become increasingly critical of how businesses refer to the self-ruled, democratic island.
Some US$15 billion evaporated Tuesday after regulators told the Shenzhen-based company to remove Monster Hunter: World from its PC downloads service just days after the action title’s debut.
The investment will come from the SoftBank Vision Fund, created to channel investments into some of the world’s most influential companies in an effort to stake out a dominant position in future technologies.
Starbucks signalled in June it was pursuing such a tie-up after reporting a sudden slowdown in China sales growth, which it partly blamed on a government crackdown on third-party delivery firms.
Food delivery platform incurring massive losses arising from heavy discounts on food orders to lure users while maintaining payments to cadres of motorcyclists that do their deliveries.