{"id":9411,"date":"2011-06-24T05:06:47","date_gmt":"2011-06-24T05:06:47","guid":{"rendered":""},"modified":"2025-10-15T12:14:33","modified_gmt":"2025-10-15T12:14:33","slug":"baidu-to-invest-306-million-in-china-travel-website","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9411","title":{"rendered":"Baidu to Invest $306 Million in China Travel Website"},"content":{"rendered":"

Baidu Inc<\/strong>., China\u2019s most- popular search-engine, said it agreed to buy a majority stake in China travel site Qunar for $306 million<\/strong>.<\/p>\n

The purchase will close in the third quarter, Beijing-based Baidu said in a statement today. The deal will be financed by a third-party loan, it said.<\/p>\n

Baidu is boosting spending on technology and stepping up investment to extend its dominance of the search-engine market in China<\/strong> into other services such as online commerce and video. The company is becoming \u201cmore active\u201d in investing in technology firms, seeking out electronic-commerce, mobile and social networking assets, Chief Financial Officer Jennifer Li said in an April interview.<\/p>\n

\u201cTravel has long been one of the top categories on Baidu<\/strong>, and the number of travelers in China has been growing very rapidly,\u201d Li said in today\u2019s statement. \u201cSo this is a market of obvious strategic importance to us.\u201d<\/p>\n

Qunar.com, which means \u201cWhere do you want to go?\u201d in Chinese<\/strong>, was founded in February 2005 and is headquartered in Beijing. It provides information on flight tickets, hotels, packages, visa and other travel service, real-time price query and comparative information services, according to its website.<\/p>\n

In March, Baidu said it was among a group of investors that paid a total of $50 million for a stake in Anjuke Inc.<\/strong>, a Shanghai-based property-listings site.<\/p>\n

Source<\/a>
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