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DDL - Dingdong Boosts Lead Over Older Rival For High-End Grocery Delivery
Dingdong (Cayman) Limited American Depositary Shares (each two representing three)
Online grocer Dingdong boosted its edge over older rival Missfresh by posting sharply stronger revenue growth in the second quarter.
The 4-year-old Dingdong saw its second quarter revenues rise nearly 80% to 4.65 billion yuan ($719.6 million) from the same period in 2020.
Those gains were roughly double the growth rate from Missfresh, founded in Beijing in 2014, whose revenues rose 40.7% to 1.9 billion yuan in the same period and which forecast far slower growth of 40% to 45% in the third quarter.