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Alibaba acquires Qiongyou stake
Aggregated Source: Shanghai Daily: Business

ALIBABA Group said it has made a strategic investment in online travel site, without revealing the capital and the amount of stake.

Alibaba said yesterday the deal is expected to bring better service and travel products to Taobao users.

Taobao set up a travel department in January this year and allows external online booking agencies to offer products on its platform.

Qiongyou, originally an online discussion forum for outbound travelers, has been gradually expanding its service to cover online ticket booking to drive up income.

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Copyright Shanghai Daily: Business