Tuniu Corporation () is a Chinese
online travel agency. Products and services include packaged tours, accommodation reservation, airline and railway ticketing, car rentals, and corporate travel. The company listed on the
Nasdaq Stock Exchange on May 9, 2014. The company
headquarters
Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...
are located in
Nanjing with offices in
Shanghai and
Beijing.
History
Founded in 2006 in Nanjing by current
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
Donald Dunde Yu and current
COO Alex Haifeng Yan, the company was fully incorporated on June 1, 2008.
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.
In April 2015, Tuniu was the subject of a boycott by seventeen Chinese travel agencies over a pricing dispute. The issue was settled a few days later following an investigation by the
China National Tourism Administration, with partner relations returning to normal. Tuniu's share price fell 4.7% following news of the dispute.
On August 23, 2016, Tuniu’s Board of Directors authorized a
share repurchase program
Share repurchase, also known as share buyback or stock buyback, is the re-acquisition by a company of its own shares. It represents an alternate and more flexible way (relative to dividends) of returning money to shareholders. When used in coord ...
to repurchase up to $150 million worth of shares. Tuniu’s share price had fallen below opening price.
Investments and acquisitions
On July 1, 2014,
Ctrip CEO
James Jianzhang Liang was appointed to Tuniu’s Board of Directors.
On December 10, 2014, Tuniu and Ctrip signed a strategic collaboration agreement to share travel resources.
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.
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.
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.
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.
Brand ambassadors
In July 2016, Tuniu announced the signing of
Taiwanese
Taiwanese may refer to:
* Taiwanese language, another name for Taiwanese Hokkien
* Something from or related to Taiwan ( Formosa)
* Taiwanese aborigines, the indigenous people of Taiwan
* Han Taiwanese, the Han people of Taiwan
* Taiwanese people, ...
pop stars
Jay Chou and
Jimmy Lin as its celebrity brand ambassadors.
References
{{Reflist
External links
Official Website
Chinese companies established in 2006
Online travel agencies
Online retailers of China
Companies based in Nanjing
E-commerce