Chinese Travel Search Company Qunar Planning U.S. IPO
Qunar.com is a Chinese travel search website that is partially owned by Baidu Inc. Qunar is planning to have an IPO in the U.S. as they believe that consumer demand for their services will continuously increase. Qunar.com’s revenue is expected to double this year. Qunar broke even in 2010 and sales more than doubled to “a few hundred million” yuan stated Qunar.com CEO CC Zhuang.
The website gets a majority of their revenue from cost-per-click travel advertisements. They expect to raise additional funding from U.S. investors after selling a $306 million stake to Baidu.
“We are a unique platform that connects the traditional IT system of airlines and hotels with massive information searches on the Internet,” stated Zhuang. Qunar.com attracts visitors by offering flight and hotel booking information that is not limited to specific vendors.