Baidu, Hillhouse & GGV Reportedly Invest $57M In Qunar As The Chinese Travel Site Weathers A Boycott

Baidu, Hillhouse Capital, and GGV Capital have invested a total of $57 million in Chinese travel site Qunar, according to a report by First Financial Daily (link via Google Translate). The news comes as Qunar weathers a boycott by third-party service providers triggered by a change in its operational and pricing policies. South China Morning Post writer Doug Young speculates that Qunar might have hiked its prices in a bid to increase revenue and profits before making its first public filing for an offering.

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