Tuniu
 | |
Native name | 途牛旅游网 |
|---|---|
| Company type | Public |
| NASDAQ: TOUR [1] | |
| Industry | Tourism |
| Founded | 2006 |
| Headquarters | Nanjing, China |
Key people | Donald Dunde Yu (CEO and co-founder) Alex Haifeng Yan (COO and co-founder) |
| Services | Packaged tours, accommodation reservation, airline and railway ticketing, car rentals, corporate travel |
| Revenue | USD$1.6 billion (2015) |
Number of employees | 8000 |
| Website | www |
Tuniu Corporation (Chinese: 途牛旅游网) is a Chinese online travel agency. The company was listed on the Nasdaq Stock Exchange on May 9, 2014. Its headquarters are located in Nanjing, with offices in Shanghai and Beijing.
History
[edit]Founded in 2006 in Nanjing by CEO Donald Dunde Yu and COO Alex Haifeng Yan, the company was fully incorporated on June 1, 2008.[1]
On May 9, 2014, Tuniu was listed on the Nasdaq Stock Exchange under TOUR, co-managed by Morgan Stanley & Co, Credit Suisse Securities LLC and China Renaissance Securities. Tuniu raised $72 million in its initial public offering, pricing 8 million shares at $9 per share. CEO Donald Dunde Yu rang the opening bell at the Nasdaq MarketSite in Times Square.[2]
In April 2015, Tuniu was the subject of a boycott by seventeen Chinese travel agencies over a pricing dispute.[3] The issue was settled a few days later following an investigation by the China National Tourism Administration, with partner relations returning to normal.[4][5] Tuniu's share price fell 4.7% following news of the dispute.[6]
On August 23, 2016, Tuniu's Board of Directors authorized a share repurchase program to repurchase up to $150 million worth of shares.[7] Tuniu's share price had fallen below opening price.[8]
In August 2024, Tuniu and Tourism Authority of Thailand partnered to boost tourism in preparation for the 50th anniversary of Thailand-China diplomacy.[9][10]
Investments and acquisitions
[edit]On July 1, 2014, Ctrip CEO James Jianzhang Liang was appointed to Tuniu's board of directors.[11] Consequently, on December 10, 2014, Tuniu and Ctrip signed a strategic collaboration agreement to share travel resources.[12]
On December 15, 2014, Tuniu announced $148 million investment in aggregate from a group that included the investment arms of Hony Capital, JD.com, Ctrip Investment Holding Ltd, and the personal holding companies of Tuniu's CEO and COO. Ctrip acquired $15 million Tuniu shares during their IPO, and currently owns over 3% of Tuniu's outstanding shares.[needs update?][13]
In May, 2015, Tuniu announced the investment of $500 million from a group of investors led by JD.com. JD.com became the largest shareholder in Tuniu with 27.5% stake.[14]
On March 9, 2015, Tuniu announced the acquisition of majority stakes in two Chinese travel agencies, Hangzhou-based Zhejiang Zhongshan International Services and Tianjin-based China Classical Holiday.[15]
On January 21, 2016, Tuniu announced the completion of a US$500 million investment from HNA Tourism Group. Transaction purchase price was US$5.50 per Class A ordinary share. HNA Tourism Group bought 24.1% share of Tuniu.[16]
Brand ambassadors
[edit]In July 2016, Tuniu announced the signing of Taiwanese pop stars Jay Chou and Jimmy Lin as its celebrity brand ambassadors.[17][18]
References
[edit]- ^ "TUNIU Company Profile". Reuters. Retrieved 2017-01-05.
- ^ "Tuniu's IPO on Nasdaq raises $72m|". usa.chinadaily.com.cn. China Daily. Retrieved 2017-01-05.
- ^ Custer, C. (Apr 23, 2015). "Major Chinese travel agents launch boycott of Tuniu". www.techinasia.com. Tech in Asia. Retrieved 2017-01-05.
- ^ "Tourism Authority to Investigate the Boycott of Tuniu.com". english.cri.cn. Archived from the original on July 18, 2015. Retrieved 2017-01-05.
- ^ "Tuniu boycott ends as tour operators come back in the fold under CNTA oversight". www.chinatravelnews.com. ChinaTravelNews. Apr 27, 2016. Retrieved 2017-01-05.
- ^ Ren, Shuli. "Tuniu Tumbles On Supplier Boycott: Oversold, Says Morgan Stanley". Barrons. Retrieved 2017-01-05.
- ^ "Tuniu Announces US$150 Million Share Repurchase Program" (Press release). PR Newswire. August 23, 2016.
- ^ "China's Travel Site Tuniu Hurt by Economic Woes, Stronger Rivals". Bloomberg.com. 2016-04-04. Retrieved 2017-01-05.
- ^ "China's Tuniu wins support from TAT". TTR Weekly. September 5, 2024. Retrieved February 2, 2025.
- ^ "TAT and Nanjing 'Tuniu' International Travel Service Sign Letter of Intent". Thailand Business News. August 31, 2024. Retrieved February 2, 2025.
- ^ "Tuniu Appoints New Director". asia.tools.euroland.com. Retrieved 2017-01-05.
- ^ "Tuniu and Ctrip Sign Strategic Collaboration Agreement" (Press release). GlobeNewswire. December 10, 2014.
- ^ "Tuniu Announces US$148 Million Investment in Aggregate from a Group of Investors" (Press release). GlobeNewswire. December 15, 2014.
- ^ Cowen, Martin (May 8, 2015). "China's Tuniu secures $500 million led by JD.com". Phocuswire.
- ^ "Tuniu Announces the Acquisitions of Two Travel Agencies" (Press release). GlobeNewswire. March 9, 2015.
- ^ "Tuniu Announces the Completion of US$500 Million Investment from HNA Tourism" (Press release). PR Newswire. January 21, 2016.
- ^ "Who Will Challenge Ctrip's Internet Travel Supremacy In China?". ChinaTechNews.com. Retrieved 2017-01-05.
- ^ "途牛网管理层：携手林志颖 打造广告界"去哪儿"-搜狐滚动". roll.sohu.com (in Chinese). Retrieved 2017-01-05.