Qunar confirming that it received and rejected a takeover bid from Ctrip and received a $500 million investment, led by Silver Lake.
Car touring startup Zijiacn announced it received a RMB5 million angel investment adding to the RMB2 million seed investment it received previously.
Qunar's total revenues for the Q1 were RMB671.1million up 100% y-o-y but adjusted net loss was RMB293.4 million, compared to RMB55.7 million in Q1 2014.
Smaller OTA players are securing backing from industry heavyweights, such as Woqu.com from Tencent, and Baicheng.com from Alibaba.
Joyu Group has received a RMB500 million strategic investment from Jin Jiang International to help it establish the largest one-stop travel O2O group in China.
A new CNTA regulation will deal a blow to the SMEs without outbound tourism licenses and have a major effect on the market in third and fourth tier cities.
Ctrip's 12 hour disruption made its share price fall by 4% at the opening of trading, and close at 1.59% lower at US$80.22 per share.
A mysterious attack as took down service on Ctrip’s homepage and app on11:09 pm May 28, effectively paralyzing all its operations.