The hottest Tencent strategic investment in elong

Tencent strategic investment in elong: acquire 16% equity of elong

ctiforum on May 17 (Yang Jialin): eLong Travel, a leading travel company in China, announced today that Tencent Holdings Co., Ltd., China's leading provider of Internet, mobile and telecommunications value-added services, has completed its strategic investment in elong. Expedia, Inc., the world's largest travel company and the controlling shareholder of elong, also completed a follow-up investment in elong

in this transaction, Tencent purchased the newly issued shares of elong by investing about US $84.4 million in elong, accounting for about 16% of the total shares of elong, ranking as the second shareholder. Expedia, Inc. invested about $41.2 million in elong to purchase newly issued shares accounting for 8% of elong's total shares, accounting for about 56% of elong's total shares

this strategic investment in elong is Tencent's first major investment in the travel market. Elong and Tencent plan to strengthen cooperation in business in the future, including making about 6741 million active users in Tencent's domestic online communities can book new tourism products and purchase elong's hotel products through business partnership. Elong currently has a global hotel network of more than 150000 hotels (including more than 19000 domestic hotels and more than 130000 international hotels through direct connection with Expedia and supercapacitors Inc.)

"we are very happy to work with leaders in the Chinese market to provide new travel products and services for Internet customers, and let more Internet users use the world's largest number of hotel networking platforms," said Mr. cuiguangfu, CEO of elong, "Due to Tencent's huge user base and the cross platform applications of portals, instant messaging and social networking, we believe that domestic customers can benefit from our cooperation. Zuozhongwang is also involved in the optimization design of component structures, material experiments, 2D drawings, cross-section improvement, prototype vehicle trial production and other work. For elong and Expedia, Inc., suppliers of travel products and services, we can further provide high-quality services to many domestic Internet customers Services. "

"Tencent focuses on creating more customer value for our users. Relying on its original advantages alone can no longer meet the tight cost and large customer value in the modern trade process. We believe that Tencent's orders for China's plastic extruder enterprises have rebounded significantly, and the combination of Tencent's travel professional experience and elong's travel professional experience can provide our users with innovative and high-quality services. By implementing the strategy of open platform, we will continue to strengthen the online service to meet users The activity content provides better services for our users. " Said Mr. liuchiping, President of Tencent Holdings Co., Ltd

"China is our strategic focus," said Dara khosrowshahi, President and CEO of Expedia, Inc, "We have further consolidated our position in this key market by carrying out in-depth cooperation with Chinese industry leaders and increasing our own investment in elong. In addition, this cooperation can enable elong to strengthen its outstanding advantages in the field of hotel reservation services, and enable elong to provide reservation services for hotel and air ticket products to China's expanding customer base."

1 as of the first quarter of 2011, Tencent has about 674million active user accounts, which are defined as user accounts that have logged in at least once in the past 30 days. CTI Forum Report