Chinese Social Media Travel Website Gains USD15 Million Investment
With the backdrop of worries over a tourism drop in China because of the avian flu, Mafengwo.cn, a Chinese tourism social media website, announced that it has completed its B financing round of USD15 million and the investors included Qiming Venture Partners and Capital Today.
Ctrip.com Posts Q3 China Internet Travel Financial Results
China’s top online travel website Ctrip.com International Ltd. today announced its unaudited financial results for the third quarter ended September 30, 2010, and stated total revenues of CNY863 million, representing a 48% increase from the same period in 2009 and a 16% increase from the previous quarter.
Ctrip.com Tumbles As Chinese Internet Travel Services Take Big Hit
The share price of China’s top online travel website, Ctrip.com, tumbled almost 14% today as word leaked that Chinese airlines were slashing commissions to Chinese travel agents.