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Posted inNews

eLong Announces Privatization Bid From Tencent

 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 […]

Posted inNews

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 […]

Posted inNews

Qunar Joins Ongoing Open Platform Fight

Chinese online travel company Qunar launched a new cloud-based open platform recently, opening its data, access, resources, supply chain, customers, and capital to the entire travel industry. In terms of capital support, Qunar announced that it will provide a combined RMB1 billion (around US$161 million) incubation funding for projects under the platform. “We will offer RMB500,000 […]

Posted inNews

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 […]

Posted inNews

Chinese Travel Search Qunar Follows $15mn Series B Financing for Taxi-hailing App GrabTaxi

Chinese travel search Qunar (NYSE:QUNR) announced today it followed the $15 million Series B financing for GrabTaxi, a Singapore-based taxi-calling app targeting at Southeast Asia market. The round is led by GGV Capital with participation from existing investor Vertex Venture Holdings, which just invested an undisclosed amount of Series A financing a few months earlier. GrabTaxi is now operating in […]

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