Privately held Qunar.com is poised to overtake its larger competitor Ctrip (CTRP) in China's nascent online travel booking industry.
Qunar allows Chinese consumers to search for airfares, trains, hotels and tours, much like Expedia (EXPE) or Priceline (PCLN). China's search giant, Baidu (BIDU), sought to capture a share of Qunar's growth by purchasing a majority stake for $306 million in June 2010.
Earlier this year, Qunar's CEO said he'd consider going public on a U.S. exchange this year if the U.S. stock market remains healthy. With just 8% of Chinese Internet users booking travel online, analysts say Qunar has plenty of room to grow.
China is the world's second largest economy, but it will still take years before living conditions are on par with other developed countries.
|Under Sanders, income and jobs would soar, economist says|
|Quicken Loans' Super Bowl ad sparks backlash|
|Dow drops over 400 points as oil drops below $30|
|Gas is near $1 a gallon in some places|
|Chipotle closed for lunch, but gives away 'raincheck' burritos|