The travel site Qunar.com of Chinese search engine (Baidu) prepares for a US Initial Public Offering.
As per the latest media news report, Qunar is in discussion with Goldman Sachs [Investment banking company] and Deutsche Bank [the global banking and financial services company] for sale.
For a majority stake in Qunar, the Chinese search engine Baidu paid about $306 million in 2011 to capture the mobile travel app market.
Qunar generates revenue mostly through advertising. The CEO Zhuang Chenchao said the company expects to double sales, this year to about $163 million.
The company even prepares for a recruitment drive and will hire many software engineers, corroborates the CEO.
As per the latest media news report, Qunar is in discussion with Goldman Sachs [Investment banking company] and Deutsche Bank [the global banking and financial services company] for sale.
For a majority stake in Qunar, the Chinese search engine Baidu paid about $306 million in 2011 to capture the mobile travel app market.
Qunar generates revenue mostly through advertising. The CEO Zhuang Chenchao said the company expects to double sales, this year to about $163 million.
The company even prepares for a recruitment drive and will hire many software engineers, corroborates the CEO.
