Baidu, Hillhouse Capital, and GGV Capital have invested a total of $57 million in Chinese travel site Qunar, according to a report by First Financial Daily (link via Google Translate). The news comes as Qunar weathers a boycott by third-party service providers triggered by a change in its operational and pricing policies. South China Morning Post writer Doug Young speculates that Qunar might have… → Read More
Chinese search giant Baidu’s investment in Qunar officially closed this week, and the two teams are working on integrating Qunar’s search results into Baidu’s travel vertical now. I caught up with Qunar’s CEO Chenchao Zhuang for his first Western interview about the deal to talk about what the deal means for the company and China’s Web scene broadly.
This $306 million deal is not only a big… → Read More
GSR Ventures has raised its fourth venture fund focused on investing in early stage Chinese companies. It took just six weeks of effort, was completed in a single close, and more than 80% of the commitments came from very happy existing investors.
The big surprise to those LPs? Given the frothiness of the Chinese market, that GSR didn’t ask for more. → Read More
Chinese search engine Baidu has made a $306 million investment in Qunar, travel search engine in China. The investment will make Baidu the majority shareholder of Qunar. Qunar had previously raised $25 million in funding. Previous investors include the Lehman Brothers, GSR Ventures Management, Mayfield Fund, and Tenaya Capital.
Founded in 2005, Qunar is basically the Kayak for China. The portal… → Read More
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