Rumor: Qunar Obtains USD 57 Mln Funding

Tencent Tech, 4/15/13

An industry source revealed today that Chinese Internet firm Baidu's (Nasdaq: BIDU) online travel services subsidiary Qunar recently completed a new round of investment to the tune of USD 57 mln. Baidu, Hillhouse Capital Management, and Granite Global Ventures (GGV Capital) reportedly each contributed USD 19 mln.

The source said it was not currently clear how the investment, which was confirmed in March, had valued Qunar.

Editor's Note: Another article in Sina Tech today quoted a Qunar representative as saying that the information being reported about the investment was incorrect, and that Qunar had not approved or corroborated any related news thus far.

Keywords: VC Internet funding online travel Qunar Baidu BIDU GGV Capital Hillhouse Capital

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