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.
|Domino's Pizza is hot again|
|Social Security benefits will rise by 1.7% in 2015|
|NBC's Dr. Nancy Snyderman to resume work in November|
|Warren Buffett's Berkshire loses $2 billion in two days|
|She's America's youngest female billionaire - and a dropout|