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28 June 2011
Baidu, China’s biggest search engine, is to invest USD 306 million in the leading Chinese travel website Qunar.com. Baidu already has a travel section and with the support of Qunar, the search giant will be able to make online bookings and payments available on its website.
Qunar, which is founded in 2005, is ranked the top travel website in China. The site offers real-time searches for air and rail tickets, hotels and tour packages, and also provides other travel related resources such as user discussion forums and group-buying deals.
In China only 7.9% of total Internet users use online travel booking services, so Baidu believes that this is a win-win investment since there is so much growth ahead for the online travel industry in China.
Qunar is expected to be independent in its operations even after this deal with Baidu.
In China only 7.9% of total Internet users use online travel booking services, so Baidu believes that this is a win-win investment since there is so much growth ahead for the online travel industry in China.
Qunar is expected to be independent in its operations even after this deal with Baidu.
Jennifer Li, Chief Financial Officeer of Baidu said “Travel has long been one of the top categories on Baidu, and the number of travelers in China has been growing very rapidly, so this is a market of obvious strategic importance to us. Our investment in Qunar will create an even better search experience for users planning trips.”
Baidu is aggressively teaming up with other companies to strengthen its foothold in China, as Chinese Internet companies increasingly compete with each other.
[Article Source]
Disclaimer:
*Shanzai.com is a news and reviews website, we do not promote specifically the purchase or sale of the products and services mentioned in our content.
Baidu is aggressively teaming up with other companies to strengthen its foothold in China, as Chinese Internet companies increasingly compete with each other.
[Article Source]
Disclaimer:
*Shanzai.com is a news and reviews website, we do not promote specifically the purchase or sale of the products and services mentioned in our content.
