Tencent Tech, 10/21/11
Zhuang Chenchao, president of Chinese travel services site Qunar, recently revealed the company's annual revenue is expected to rise 120% YoY in 2011 and double again in 2012. Q3 2011 revenue is in the nine-figure RMB range, driven by growth of the online airline ticketing business. Qunar has invested heavily in its hotel booking and wireless operations, and expects those divisions to begin generating revenue by H2 2012 at the earliest. Zhuang added that because the company is currently profitable, it has yet to begin using the USD 300 mln it received from Chinese internet company Baidu (Nasdaq: BIDU).