Trending

Stories

Expedia sells a 62.4% stake of eLong to Ctrip and others for $671 million

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Expedia, Inc. (NASDAQ: EXPE), one of the largest travel companies in the world, last week sold a 62.4% stake in eLong (NASDAQ: LONG), the largest shareholder of the Company, to its rival Ctrip (NASDAQ:  CTRP) and others for $671 million.

The travel major sold 37.6% stakes to Ctrip for $400 million and rests to the other companies such Keystone Lodging Holdings Limited, Plateno Group Limited, and Luxuriant Holdings Limited totaling the deal price of approximately $671 million.

Also Read

Expedia earlier emphasized growing its presence in China by picking a 30% stake in eLong in 2004. They raised their share to 62.4%, making them the company’s largest shareholder. The sale of the entire stake to its largest competitor seems to end Expedia’s presence in China.

Though Expedia and Ctrip “have agreed to cooperate with each other to allow their respective customers to benefit from certain travel product offerings for specified geographic markets.”

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Expedia, Inc., which has an extensive brand portfolio including leading online travel brands, such as Expedia.com, Hotels.com, Chicago, and Travelocity, will now be cooperating with Ctrip isn’t necessarily good news for its largest rival, Priceline Group.

Currently, eLong, which provides mobile and online accommodations reservations in China, has a strong network of approximately 510,000 properties worldwide will boost Ctrip to increase its growing base in China.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS
Nothing Phone Enters US with Beta Membership Program Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend Redmi Note12 Pro Plus Launched in India