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June 24, 2011 04:21 pm GMT
Chinese search engine Baidu has made a $306 million investment in Qunar, travel search engine in China. The investment will make Baidu the majority shareholder of Qunar. Qunar had previously raised $25 million in funding. Previous investors include the Lehman Brothers, GSR Ventures Management, Mayfield Fund, and Tenaya Capital. Founded in 2005, Qunar is basically the Expedia for China. The portal allows Chinese consumers to serach for air and rail tickets, hotels, and tour packages. The company also provides group-buying deals and user discussion forums for reviews. Currently Qunar is one of the most frequented travel search engines in China, listing more than 11,000 air routes and 102,000 hotels worldwide.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/apAwlcBhLUQ/
Baidu Makes $306 Million Strategic Investment In Chinese Travel Search Engine Qunar
Chinese search engine Baidu has made a $306 million investment in Qunar, travel search engine in China. The investment will make Baidu the majority shareholder of Qunar. Qunar had previously raised $25 million in funding. Previous investors include the Lehman Brothers, GSR Ventures Management, Mayfield Fund, and Tenaya Capital. Founded in 2005, Qunar is basically the Expedia for China. The portal allows Chinese consumers to serach for air and rail tickets, hotels, and tour packages. The company also provides group-buying deals and user discussion forums for reviews. Currently Qunar is one of the most frequented travel search engines in China, listing more than 11,000 air routes and 102,000 hotels worldwide.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/apAwlcBhLUQ/
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