Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Expedia to Acquire Kuxun for USD 12 Mln

Sohu IT, 10/30/09

According to industry sources, American online travel company Expedia will soon announce its purchase of Chinese travel search engine and classified ad site Kuxun. The deal will be handled by TripAdvisor, which Expedia owns. Sources within Expedia have said that Kuxun was purchased for USD 12 mln.

Kuxun has begun re-signing option agreements with its staff. Save for a few very early employees, most employees have an option exercise price of approximately RMB 4 per share. Expedia is paying an option price of RMB 2 for this acquisition.

Kuxun was established in January 2006, and received USD 2 mln in funding in April of that year. In September 2006 it received a second round of funding worth USD 10 mln. Both rounds of funding were provided by Ceyuan Ventures and Susquehanna International Group (SIG).

Editor's Note: Kuxun representatives have confirmed the purchase, but have not disclosed transaction details.

Keywords: Internet Expedia online travel Kuxun TripAdvisor HR online classifieds online search M&A

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports