If a few years ago I was the Sun Wukong who was unconquered and at a loss what to do, today I have become Tang Monk who has not changed in seventy-two ways and has only one persistent thought.
Wang Xing is included in the 'Business Maverick' column because he has repeatedly proven over two decades that true business resilience is not about never failing, but about getting back on the road after every fall. From the successive closures of Xiaonei and Fanfou, to the brutal Groupon War, to the billions in losses from community group-buying and instant retail, Wang Xing has never chosen to 'disband.' His archival value lies in providing a rare sample: how a serial entrepreneur, under enormous financial cost and public pressure, still adheres to his 'infinite game' belief. This posture of not retreating in adversity is precisely the 'maverick' spirit this column seeks to capture.
Wang Xing's entrepreneurial career began in 2005 when he founded Xiaonei, which quickly gained a large user base and became a representative early social platform in China, but was forced to sell due to funding constraints. [1] In 2007, he launched Fanfou, exploring short-content social networking, but it ceased operations in 2009. [1] After two failures, Wang Xing founded Meituan in 2010, entering the local life group-buying sector. [1] During the Groupon War, Meituan stood out through steady operations and listed on the Hong Kong Stock Exchange in 2018 with a market value of approximately HK$400 billion. [2] Since then, Meituan has expanded its business to cover food delivery, in-store, hotel & travel, mobility, retail, and more, becoming a core enterprise in the local life services sector. [2]
Wang Xing is deeply influenced by the concept of 'infinite games,' believing that entrepreneurship is not about short-term wins but about keeping the game going. [4] During the Groupon War, Meituan did not blindly burn cash for expansion but focused on operational efficiency and cost control, ultimately winning. [1] In 2020, Meituan invested in community group-buying, which Wang Xing called 'a high-quality opportunity that comes once in five or ten years,' but the business led to huge losses in 2021. [3] Facing losses, Meituan began to shrink and adjust from 2022, reducing costs and improving efficiency. [3] In 2025, Meituan lost 23.4 billion RMB again, but Wang Xing still insists on long-term investment, focusing on AI and overseas markets. [5] He believes that entrepreneurship is a way to change the world, and even through setbacks, one must persist. [4]
Wang Xing is regarded as a serial entrepreneur and maverick in China's internet industry. He experienced the failures of Xiaonei and Fanfou, but won the Groupon War and led Meituan to become a giant in local life services. [1] [2] Despite huge losses in community group-buying and instant retail, he persists in long-termism, promoting Meituan's continuous investment in drone delivery, overseas business Keeta, and AI applications. [5] Wang Xing's self-metaphor of 'Tang Monk' and his infinite game philosophy have influenced many entrepreneurs, symbolizing persistence in adversity. [4] His experience proves that a true maverick is not one who never falls, but one who dares to continue after climbing out of the abyss. [5]
The business proposition Wang Xing leaves behind is: in an infinite game, how to balance short-term losses with long-term survival? He answered with his actions—not pursuing victory in a single battle, but allowing the enterprise to continuously participate in industry evolution. From Xiaonei to Meituan, from community group-buying to drone delivery, he has always been exploring the boundaries of business, even at the cost of billions. His significance lies in proving that in China's rapidly changing internet industry, adhering to long-termism is not empty talk but a practice that requires bearing enormous costs. Wang Xing's archive records how a maverick spent two decades writing the phrase 'never disband' into China's business history.