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.
|New iPhone: Apple to make (iPhone 6S?) announcement on September 9|
|NYPD to Disney and Marvel: Get Minnie Mouse and Spider Man out of Times Square|
|Can the global gloom sink the U.S. economy?|
|How to learn about investing...by watching Netflix August 29|
|Comcast's super-fast cable Internet is coming|