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Chinese Internet Travel Site Receives Funding
November 21, 2007 |
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Chinese Internet travel search engine Qunar has reportedly received a round of financing worth US$10 million.
According to published media reports, Lehman Brothers Private Equity Partners led the financing for the oddly named search engine that means "where are you going" in the Beijing dialect. With previous funding from funds like GSR Ventures and Mayfield, now the company will use the money to capture more users from around the country.
The company operates as a meta-search engine that aggregates and provides Chinese-language search results of travel deals around China. As many Chinese airline deals and prices are still rather standardized, this search service should become more valuable as the Chinese airline sector becomes more fragmented and less regulated, giving users the ability to truly leverage a travel search online.
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