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 […]
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Priceline Group Announces Additional US$250M Investment in Ctrip
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 […]
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Travel App Developer Huoli Accelerates Monetization
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 […]
