17u.cn Gearing up for A-Share Listing

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Chinese OTA 17u.cn (also known by TongCheng) was reportedly gearing up for it’s A-Share listing in domestic stock exchange. 17u.cn provides booking services ranging from flights, hotels, tickets for scenic spots to car rentals and so on.

The company’s revenue hit RMB 160 million in the third quarter of this year, up 200% yoy. It’s total transaction in this quarter reached RMB 2 billion while 90% comes from online oders.

Wu zhixiang, CEO of the service claimed it to be the largest booking platform for DIY tourists. It gained more than 2 million new registered users among fierce price wars in Q3 of this year.

Wu also mentioned that the travel booking service has made an effort to integrate different products into a travel package to give tourist more convenience. Tencent invested RMB tens of millions into the service in this May as the Chinese social giant is also looking to come up with more diversified ecommerce assets to compete with Alibaba.