Skift Take
It is rare, if not unprecedented, for a major online travel agency such as Ctrip to invest in a supplier, in this case a large car-rental company. Rest assured this is not a passive investment; the two parties plan to take advantage of the relationship.
China’s largest online travel agency, Ctrip, led a $100 million equity investment into Shanghai-based eHi Auto Services, becoming the second largest investor in the car-rental firm.
Enterprise Holdings, the U.S.-based car-rental company, first invested in eHi Auto Services in 2012 and is the largest strategic investor, and Ctrip is the second largest.
Also participating in this latest funding round were Qiming, Ignition, Jafco, New Accesss, CDH, Goldman Sachs and Enterprise.
eHi Auto Services, which has more than 400 outlets and offers services in 80 cities across China, says the partnership with Ctrip will create better travel packages, and enhance offerings for leisure and corporate customers.
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Tags: china, ctrip, enterprise