Comment on Ctrip Invests $200 million in LY.com, Becoming Its Second Largest Shareholder by Ctrip Invests $200 million in LY.com, Becoming Its Second Largest Shareholder | GeekTime

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-04-28 00:00:00

China’s leading online travel service Ctrip announced today it has invested more than USD200 million in cash in LY.com, one of its competitors, becoming the second largest shareholder in the latter. It’s undisclosed what a percentage Ctrip has taken in LY, but rumor says it’s about 30%. LY.com, formerly 17u.cn, wasn’t well-known in China’s online travel market until recently as it introduced funding from Chinese Internet giant Tencent and would run the flight booking service on Tencent’s flagship mobile app WeChat. Dramatic changes are brewing in China’s online travel market. A rumor went so far that Ctrip was in talks with Qunar, the travel search service under Baidu, on potential acquisition.