VC-backed Tujia acquires Ctrip, Qunar's homestay assets
Chinese vacation rental platform Tujia, which has several VC and PE investors, has acquired the homestay businesses of travel websites Ctrip and Qunar, strengthening its already dominant position in China’s accommodation sharing market.
The deal comes as a $4.4 billion privatization of Qunar led by Ocean Management Holdings and Ctrip won shareholder approval. Last year, Qunar agreed to an all-share merger with its primary competitor Ctrip which...
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