Baidu, VC-backed travel website Qunar files for $125m IPO
Qunar, a Chinese travel website majority-owned by internet search giant Baidu, is looking to raise up to $125 million through an IPO in the US. GSR Ventures and GGV Capital still hold minority positions in the company but it is unclear whether they plan to use the offering as an opportunity to exit.
According to a regulatory filing, Baidu owns 61.05% of Qunar, while GSR has 6.27% and GGV has 4.54%. Since its inception in 2005, the company has received more than $25 million in backing from Mayfield...
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