Quantcast
Digital Booking Sites

China Online Tour Company Tuniu Raises $72 Million in Nasdaq IPO

Excerpt from English.News.cn

May 16, 2014 1:45 pm

Skift Take

Chinese online travel companies face intense competition and they are hot, with many turn to U.S. stock markets to raise funds to grow.

— Dennis Schaal

The Latest Intelligence on the Travel Industry

Free Report: The Megatrends Defining Travel in 2015

Zoetnet  / flickr.com

Tourists take a photo of the Palais Garnier in the center of Paris, France. Zoetnet / flickr.com


Tuniu Corporation, a Chinese online leisure travel company, launched an initial public offering (IPO) May 9 on the Nasdaq market and raised about $72 million.

The company, based in Nanjing, said the funds raised will be mainly used to increase the number of departure locations and service centers, improve mobile services, as well as research and development.

Donald Yu (Dunde Yu), co-founder and chief executive officer of Tuniu, said China’s tourism industry features rapid growth of overseas travel, transformation from PC to mobile devices, and higher expenditure of individual trips, areas in which Tuniu has developed advantages.

Read the Complete Story →

Tags: , ,

Next Up

More on Skift

Southwest CEO: An Acquisition Would Be a Low Priority and a Distraction
American Airlines CEO: It’s Not the Same Old Airline Business Anymore
Frankfurt Airport Will Invest $3.2 Billion To Add Its Terminal of the Future
How Business Travelers Can Benefit from Hotel Loyalty Programs