Whether a realistic business proposition or not, many Western businesses will look to China at one point or another with a view of entering and making vast sums of money.
Yesterday, Baidu, China’s largest search engine, trumpeted the astonishing growth of its travel site Qunar, which in the fourth quarter became Chinaâ€™s largest internet retailer of airline tickets â€” overtaking Ctrip, the dominant OTA.
Happy days at Mobile Travel Technologies as it welcomes a $5 million injection of funding from DFJ Esprit, one of the largest venture capital companies in Europe.
Chinese search engine Baidu is wasting no time making the most of its $306 million investment in metasearch site Qunar, promising to soon incorporate hotel search.
While some industry folk in the western hemisphere gasp at levels of money being thrown into the likes of Wimdu and Airbnb, over in China there are even bigger sums in play.