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Posted inNews

Ctrip, Qunar End China’s Biggest Online Travel Rivalry With Multi-Billion Dollar Partnership

The spate of consolidations between Chinese tech companies continues as yet another industry rivalry is settled in a multi-billion dollar partnership. Ctrip.com International Ltd. and Baidu-backed Qunar Cayman Islands Ltd. have announced a matchup today that will have a valued worth of approximately $15.6 billion USD. Unlike other recent match-ups in the market, Qunar and Ctrip’s partnership involves a share […]

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

Market Expertise Still More Important Than Tech And Capital In China: Qunar Founder

Despite the fact that the Middle Kingdom is currently bursting with investment capital, the secret to successfully launching in China is still relationships and market knowledge, according to Qunar co-founder Frederick Demopoulos who spoke at TechCrunch Shanghai this Monday. Qunar, one of the country’s largest travel service websites, is among the most successful foreign co-founded companies currently […]

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

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

China’s Ticketing Site LY.com Lands Nearly $1B USD Funding Led By Wanda Group

LY.com (formerly 17U.com or Tongcheng), one of China’s largest ticketing websites, has secured more than 6 billion RMB ($967 million USD) funding from a consortium led by Chinese real estate conglomerate Dalian Wanda Group, Tencent Industrial Capital, CITIC Capital Holdings as well as other institutions. The company did not specify the stakes each investors are acquiring. The investment, which marks […]

Posted inNews

Female Founders Take The Lead At Chinaccelerator Demo Day

Chinaccelerator, an SOSventures accelerator presented its ten startups yesterday for judging after a 90-day intensive program. The China-based competition is globally unique in a few aspects, not only does it host startups from a range of foreign backgrounds as well as China, but it also has a 50% female founder participation rate. And at the wrap up of yesterday’s pitch […]

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