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Trip.com Group
Trip.com Group Limited is a multinational travel agency headquartered in Shanghai, China. It was the largest online travel service in the world in 2017.
Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship Trip.com, Skyscanner, Ctrip, Qunar, and Travix. It operates websites in approximately 40 languages and 200 countries. The company is ranked 820th on the Forbes Global 2000.
The company was founded as Ctrip.com by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.
The company was listed on the NASDAQ in 2003 through a variable interest entity (VIE) based in the Cayman Islands in a Merrill Lynch-led offering, raising US$75 million from the sale of 4.2 million American depositary receipts at $18 each. On its first day of trading, it appreciated 86% to close at $33.94 per ADR, after trading as high as $37.35. It was the first company since the November 2000 IPO of Transmeta to double its price in the first day of trading.
The company is a proponent of scientific management. In 2012, the company conducted a randomized control trial using 242 employees and sponsored by professors at Stanford University and Peking University. It found that employees randomly assigned to remote work for 9 months increased their output by 13.5% versus the office-based control group, and their turnover rates fell by almost 50%. The company then allowed remote work company-wide.
In August 2014, Priceline.com, announced that it would invest $500 million in the company to broaden the companies' options in China, and the companies, which had a commercial partnership since 2012, increased their cross-promotion of each company's hotel inventory and other travel services. The investment was increased by $250 million in May 2015.
In November 2016, the company acquired Skyscanner for £1.4 billion. That same month, Jane Sun became the CEO of Ctrip which she had joined in 2005.
On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website. By 2018, Trip.com Group derived only around 2% of its revenue from overseas customers, and it announced plans to increase that share to roughly 20% within five years, using the Trip.com brand as the spearhead for international expansion. The strategy focused on growing in Asian markets such as South Korea and Japan, as well as in Western destinations like London, to better compete with global rivals like Expedia. Following the Trip.com relaunch, the platform was made available in multiple languages and had over six million users by mid-2018, with booking transactions doubling year-on-year.
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Trip.com Group
Trip.com Group Limited is a multinational travel agency headquartered in Shanghai, China. It was the largest online travel service in the world in 2017.
Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship Trip.com, Skyscanner, Ctrip, Qunar, and Travix. It operates websites in approximately 40 languages and 200 countries. The company is ranked 820th on the Forbes Global 2000.
The company was founded as Ctrip.com by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.
The company was listed on the NASDAQ in 2003 through a variable interest entity (VIE) based in the Cayman Islands in a Merrill Lynch-led offering, raising US$75 million from the sale of 4.2 million American depositary receipts at $18 each. On its first day of trading, it appreciated 86% to close at $33.94 per ADR, after trading as high as $37.35. It was the first company since the November 2000 IPO of Transmeta to double its price in the first day of trading.
The company is a proponent of scientific management. In 2012, the company conducted a randomized control trial using 242 employees and sponsored by professors at Stanford University and Peking University. It found that employees randomly assigned to remote work for 9 months increased their output by 13.5% versus the office-based control group, and their turnover rates fell by almost 50%. The company then allowed remote work company-wide.
In August 2014, Priceline.com, announced that it would invest $500 million in the company to broaden the companies' options in China, and the companies, which had a commercial partnership since 2012, increased their cross-promotion of each company's hotel inventory and other travel services. The investment was increased by $250 million in May 2015.
In November 2016, the company acquired Skyscanner for £1.4 billion. That same month, Jane Sun became the CEO of Ctrip which she had joined in 2005.
On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website. By 2018, Trip.com Group derived only around 2% of its revenue from overseas customers, and it announced plans to increase that share to roughly 20% within five years, using the Trip.com brand as the spearhead for international expansion. The strategy focused on growing in Asian markets such as South Korea and Japan, as well as in Western destinations like London, to better compete with global rivals like Expedia. Following the Trip.com relaunch, the platform was made available in multiple languages and had over six million users by mid-2018, with booking transactions doubling year-on-year.