Qunar IPO and Q3 earnings report

 

Qunar, the Baidu- owned travel booking site raised US$167 million in an IPO this month.
The company priced shares at $15, which later surged to 89% to $28.4 at the end of the first day of trading.

 

In its Q3 earnings report later that month, the company revealed a revenue of US$39.4 million up 57.5% from the previous year. Despite this growth in revenue, the company suffered a net loss of US$9 million in Q3.

 

Qunar will be competing against CTrip on 12th December promotions, a significant calendar event for the travel industry as the holiday season approaches and consumers start planning for Christmas, New Year and Spring Festival. Industry analysts expect the day to feature heavily on mobile apps sites.