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

Free Report: The State of Chinese Outbound Market Travel

Free Report: The State of Student Travel

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

Daily Travel Startup Watch: Localers, Homeview Adventures and More
Airbnb’s Next Big Challenge Is Keeping the Scammers Away
12 Digital Travel Trends We’re Tracking at Skift This Week
Free Webinar: How To Use Twitter To Increase Travel and Tourism