Bizbeat Ep.170: Blooming coffee industry attracts China’s tech giants
In many cities, coffee has become a must have for consumers. New brands continue to mushroom, with commercial coffee chains accelerating their expansion with private financing. Earlier this year, Canadian coffee chain Tim Hortons completed a new round of financing. Another rapidly growing local brand representative is Manner Coffee and its growth has attracted the attention of Chinese tech giants -- Meituan and ByteDance. Why are tech firms chasing after coffee chains? In this episode of BizBeat, CGTN's Lily Lyu explains.