Alibaba Buys 15% Stake in Hotel Tech Service Shiji to Strengthen Forays into Online Travel Market

Alibaba Group, the Chinese Internet giant that just closed a record-breaking US$25 billion IPO, has invested 2.81 billion yuan (around US$ 459 million) in Chinese hospitality information provider Beijing Shiji Information Technology Co., Ltd. via its online marketplace Taobao.

After the deal, Alibaba will hold a 15% stake and one position in board of directors in the latter.

Established in 1995, Shiji Information, a Shenzhen Stock Exchange-listed firm, is principally engaged in developing software that manages room reservations, purchasing, inventory, and point of sales systems, as well as broadband networks and billing systems.

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