The new coronavirus outbreak is pressuring share prices for China’s biggest tech companies including Alibaba, JD, Baidu, and Ctrip.
Everyone wants to go back to the “China dream” as soon as possible, but the new normal still includes temperature checks.
Say goodbye to Facebook, Twitter, and Instagram and welcome your new favorite apps. Here is everything you will need to navigate your China life. 1. Communication: WeChat (微信) The app to rule them all, WeChat is the very definition of indispensable in China. This is where you will connect with your friends, communicate with your […]
Tujia.com, which is often dubbed the AirBNB of China, announced Wednesday that it has entered into a strategic agreement with Ctrip and Qunar to merge vocation home rental businesses of the two Chinese online travel services. It represents another strategic move by Tujia after its purchase of the short-term rental platform Mayi.com this June. Through this acquisition, […]
Chinese P2P platform for tour guide services Nilai.com announced the completion of a 15 million yuan ($2.3 million USD) pre-A round of funding on Tuesday. The funding was led by Beijing Fuyuan and will be used to improve the app and enhance the marketing outreach to attract more local guides in overseas countries. Nilai.com, whose Chinese name translates […]
ELong, one of China’s largest online travel services, today announced that its board of directors have received a privatization offer from existing shareholder Tencent, which hopes to acquire all remaining shares in the company. Tencent offered shareholders $18 per American Depositary Receipt (ADR), a 27 percent premium to Monday’s closing price in New York, according to […]
The overseas online travel service company Priceline Group Inc. today announced that it will invest an additional US$250 million in Ctrip.com International, Ltd. , China’s leading online travel company. This investment follows a commercial relationship established between the two companies in 2012, which was expanded in August 2014 along with the US$500 million investment by The Priceline Group. Immediately following issuance of the […]
Huoli, the Chinese app developer behind Flights Manager and Bullet Train Manager (our translation), has disclosed a gross merchandise volume of RMB6 billion (around US$1bn) in 2014, up from RMB700 million (around US$113m) in the previous year. The company claimed it has had some 60 million users, with 5 million monthly active users as of March 2014 (source in […]
China’s leading online travel service Ctrip announced today it has invested more than USD200 million in cash in LY.com, one of its competitors, becoming the second largest shareholder in the latter. It’s undisclosed what a percentage Ctrip has taken in LY, but rumor says it’s about 30%. LY.com, formerly 17u.cn, wasn’t well-known in China’s online travel […]
Ctrip, the leading online travel service provider, was listed on NASDAQ in 2003; Alibaba Group, led by Jack Ma and owner of Alibaba.com, Taobao.com, Alipay and China Yahoo! now has about 22,000 employees across 60 cities and regions (wikipedia). According to this report, in a trip to U.S days ago, Jack Ma was meeting with […]