Together with the network of art Dragon to pull Ctrip dismount

Absrtact: With the help of bat, the large-scale remodeling of the online tourism market has begun. April 16, Yi Long Network and with the Cheng announced the depth of strategic cooperation, the two sides will get through the backstage system, Art Dragon will be their core resources hotel reservation grafting to the same process network, and the same way network

With the help of bat, the large-scale "remodeling" of the online tourism market has begun. April 16, Yi Long Network and with the Cheng announced the depth of strategic cooperation, the two sides will get through the backstage system, Art Dragon will be their core resources hotel reservations grafted to the same network, while the same Cheng will be their own core resources to the admission of tickets to the art Dragon Net. It is noteworthy that Tencent is an important shareholder of the Art Dragon and the same course net, therefore, it is regarded as the promoter behind the cooperation of the art dragon and the same process.

In addition, because the Art dragon and the same process of cooperation between Ctrip and where to go to the network of the merger "gossip", therefore, there is also the view that both sides of this "holding group" from Ctrip and to where the network is expected to merge the pressure. However, Yi Long Network CEO Cui and the same way network CEO Wu Zhixiang interviewed, all denied that the cooperation between the two is originated from Ctrip, to where the network merger pressure.

The same process network confirmed the suspension of domestic listing

Public information shows that, in December 2012, with Cheng has launched the GEM listing plan, counseling brokerage securities for the national letter. However, as a result of the suspension of the new issue, has not been able to. After the IPO restart, the name of the same process network did not appear in the Gem queue list.

In this respect, Wu Zhixiang revealed: "The same way net last year temporarily abandoned the domestic IPO." ”

But there is no shortage of money for the same process that has temporarily abandoned domestic IPOs. 2 months ago, with Cheng received from Tencent, Boyu, Yuan wo three institutions totaling 500 million yuan of financing. In May 2012, Cheng with Tencent for tens of millions of dollars in investment. Although the company did not disclose the current shareholding ratio of Tencent, but Wu Zhixiang in a recent internal mail, said, "the same network of entrepreneurial team still maintain the corporate control, the company's future goal is still an independent IPO."

Data show that the same way network can now provide more than 8,000 scenic spots in the country tickets booking, ranked first in the online attractions ticket booking. Wu Zhixiang said that the acquisition of Tencent and other institutions after the financing will be vigorously invested in tickets and the surrounding market, to become the first leisure tourism, "we strive for the most support for all parties, the demand for leisure tourism and mobile phone application for the most close combination, catch the last bus moving." ”

With the Beijing-East, the public comments have been similar to the marriage Tencent, Tencent has become a major advantage is to be able to proximity first "micro-letter", and this, also means to obtain the mobile internet "ticket." In this respect, Cui and Wu Zhixiang are confirmed that the future of the Art dragon and the same hotel, tickets and other products will also be landing micro-letter.

"China has 1 billion people in a year, the average price of each ticket is 100 yuan, a year's total water is 100 billion yuan, currently through online booking transactions less than 5%." Therefore, the market space for tickets booking online is very large, Wu Zhixiang said.

Same art dragon "enemies"

Although Cui and Wu Zhixiang in an interview, all denied that the cooperation between the two sides from Ctrip and where the network pressure, but at the same time, also set the future goals in the past Ctrip and where to go online.

Prior to that, the industry has been rumored, where to go to the network of major shareholders Baidu is a trader will carry Ctrip and where the net to merge, to the recent market capitalisation, Ctrip (market value of 7.017 billion U.S. dollars) and to where the net (3.424 billion U.S. dollars) the total market value will be more than 10 billion dollars, The Art Dragon's current market capitalisation is only 569 million dollars. In other words, if the exclusion of their respective camps behind the backers-Tencent and Baidu, alone in terms of market capitalisation, "Ctrip + where to" the combination of far better than "art Dragon +" combination.

However, for Ctrip and where the merger prospects, Cui think it is not easy, "Ctrip and where to network merger, has met the anti-monopoly law, the requirements of the approval, therefore, whether to obtain approval is a huge question mark." Ctrip, where all claimed to be the first place, it is difficult to imagine the online travel industry two first cooperation, will not produce a greater monopoly and industry concentration. If two companies together, I believe it is not good for the industry, this is beyond doubt.

In this connection, a person close to Ctrip said to the securities daily: "The entire online tourism industry in the entire Chinese tourism industry penetration rate of not more than 10%, so Cui so-called monopoly said not tenable." ”

Wu Zhixiang pointed out: "A business in the time of bragging that it is the industry first, when it comes to the anti-monopoly law, said that the industry is not this industry, in the request for approval of the Ministry of Commerce when said that they are the fifth industry." A company with a market value of 7 billion dollars, a company with a value of 3 billion dollars, which travel agency in China can make so much by booking and booking, they already account for more than 50% of the share. The merger of the two families cannot attempt to escape the procedures for the approval of the Antimonopoly Act. ”

However, Cui also said: "Even if Ctrip and where to merge the network, we have a way." Closing a door, we open another window. Last year we put on a lot of Baidu, this year to put a little bit, we can still survive, as long as the core competitiveness is not afraid. Ctrip and where to merge or not to merge, will have no impact on our strategy. ”

China's online travel market has more than 200 billion yuan in turnover and is expected to break 500 billion in 5 years, according to data.