Expedia to Acquire Kuxun for USD 12 Mln

Sohu IT, 10/30/09

According to industry sources, American online travel company Expedia will soon announce its purchase of Chinese travel search engine and classified ad site Kuxun. The deal will be handled by TripAdvisor, which Expedia owns. Sources within Expedia have said that Kuxun was purchased for USD 12 mln.

Kuxun has begun re-signing option agreements with its staff. Save for a few very early employees, most employees have an option exercise price of approximately RMB 4 per share. Expedia is paying an option price of RMB 2 for this acquisition.

Kuxun was established in January 2006, and received USD 2 mln in funding in April of that year. In September 2006 it received a second round of funding worth USD 10 mln. Both rounds of funding were provided by Ceyuan Ventures and Susquehanna International Group (SIG).

Editor's Note: Kuxun representatives have confirmed the purchase, but have not disclosed transaction details.

Keywords: Internet Expedia online travel Kuxun TripAdvisor HR online classifieds online search M&A

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