The New York Times:
Despite fears about the health of the Chinese economy, the travel market is still growing. Ctrip’s second-quarter revenue rose 47 percent, to $408 million, from a year ago. Qunar’srevenue increased 120 percent, to $142.1 million in the second quarter.
Kaiser Kuo, the international communications director for Baidu, said the agreement with Ctrip would give Qunar more opportunities to cooperate on mobile search and map-based products.
He also said the two companies would be able to benefit from each others’ strengths in different markets.
“Ctrip is big on high end business travel, Qunar has been more leisure, personally booked travel,” he said. “We’re covering more bases, a broader demographic.”The travel industry is not the only sector that is seeing companies team up amid steep competition.
More in the New York Times.Meituan, a group buying service, and Dianping, a consumer review site, agreed to join forces this month with the goal of creating an e-commerce juggernaut.
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