LY.com, one of China's many privately-run travel booking websites,
announced that they have gained over CNY6 billion new investments from
Wanda Culture Industry Group, Tencent Industry Win-Win Fund, and CITIC
Capital. Wanda Culture Industry Group invested CNY3.58 billion in the tourism website.
Founded in 2004, LY.com already claims to have served about 30 million users in 2014, representing a growth of 100%. With the investment, Wanda Culture Industry Group and LY.com will begin a comprehensive strategic cooperation. Wanda's tourism business will be able to access online channels to gain customer resources, and LY.com will gain tourism destination resources and increase its trading volume.
Wang Jianlin, chairman of Wanda Group, said that by investing in LY.com, Wanda's tourism business will form a triumvirate structure, including a powerful online platform, an offline channel, and and large tourism destinations.
Founded in 2004, LY.com already claims to have served about 30 million users in 2014, representing a growth of 100%. With the investment, Wanda Culture Industry Group and LY.com will begin a comprehensive strategic cooperation. Wanda's tourism business will be able to access online channels to gain customer resources, and LY.com will gain tourism destination resources and increase its trading volume.
Wang Jianlin, chairman of Wanda Group, said that by investing in LY.com, Wanda's tourism business will form a triumvirate structure, including a powerful online platform, an offline channel, and and large tourism destinations.
