Travel search engine Qunar.com received USD 306 million strategic investment from Baidu, which makes Baidu the biggest institutional shareholder.
306 million is the biggest strategic investment in online travel market in China and also the biggest one for Baidu so far. Qunar and Baidu will work closely together in the product line and branding to promote online travel business.
In addition to cash investment, in-depth strategic cooperation also includes the valuable business framework. after the investment, Qunar.com will maintain the existing strategic direction and continue to develop Chinese online travel market and increase its investment in hotel, hotel group deals, and online marketing for hotels.
Qunar network was founded in February 2005 and is one of the largest Chinese online travel websites. Qunar.com aggregates travel information (like hotel, air tickets and tour packages) from various sources to provide users comparison on prices and other information. It also recently launched daily deal services.
Qunar has over 45 million monthly unique visitors.