Invite colleagues
Some great news for a great entrepreneur and all round nice guy, Fritz as heard his company Qunar.com received USD 306 million strategic investment from Baidu, which now makes Baidu their biggest institutional shareholder.
US$ 306 million is the biggest strategic investment in online travel market in China and also the biggest one for Baidu so far. Qunar and Baidu will work closely together in the product line and branding to promote online travel business.
In addition to cash investment, in-depth strategic cooperation also includes the valuable business framework. after the investment, Qunar.com will maintain the existing strategic direction and continue to develop Chinese online travel market and increase its investment in hotel, hotel group deals, and online marketing for hotels.
Written on Friday, 24 June 2011 22:16 by Matt McDougall
