Many entrepreneurs are leaving innovation hub Beijing Zhongguancun to join leading enterprises to start their business as an internal division.
C Teleport will use the investment for product development, getting closer to global flight coverage and, ultimately, to move into the general business travel market.
Traveloka has acquired three online travel agencies (OTAs) – Indonesia’s Pegipegi, Vietnam’s Mytour, and the Philippines’ Travelbook – for USD 66.8 million earlier this year.
The growth rate of funding to travel startups has contracted each of the last three years, companies in Asia Pacific have now raised the most money.
Startups that do take funding from SoftBank become addicted to capital and prematurely lead their startup into dizzying growth trajectories.
The deals add 100 new homes to GuestReady’s portfolio, growing it to more than 1,000 properties in the United Kingdom, France, Portugal, United Arab Emirates, Malaysia and Hong Kong.
Fosun Tourism shares fell 3.4% to HK$15.06, easing from its initial public offering price of HK$15.60 as of 10:25am on Friday, in line with a broad sell-off in Hong Kong shares.
Potential buyers weighing an offer for all or part of the company included KSL Capital Partners LLC, Blackstone Group LP, KKR & Co. and Ashkenazy Acquisition Corp., people familiar with the matter told Bloomberg.
ChinaTravelNews is a wholly owned subsidiary of
©2017 TravelDaily Inc.