Tuniu

Tuniu Corporation

Native name

| 途牛旅游网
Type| Public

Traded as

| 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.com

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.

## Contents

* 1 History
* 2 Investments and acquisitions
* 3 Brand ambassadors
* 4 References
* 5 External links

## History

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

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

In July 2016, Tuniu announced the signing of Taiwanese pop stars Jay Chou and Jimmy Lin as its celebrity brand ambassadors.[17][18]

## References

1. ↑ "TUNIU Company Profile" (in en-US). https://www.reuters.com/finance/stocks/companyProfile?symbol=TOUR.O.
2. ↑ "Tuniu's IPO on Nasdaq raises $72m|". China Daily. https://usa.chinadaily.com.cn/2014-05/10/content_17497703.htm.
3. ↑ Custer, C. (Apr 23, 2015). "Major Chinese travel agents launch boycott of Tuniu" (in en-US). Tech in Asia. https://www.techinasia.com/major-chinese-travel-agents-launch-boycott-tuniu.
4. ↑ "Tourism Authority to Investigate the Boycott of Tuniu.com". http://english.cri.cn/12394/2015/04/25/4081s875979.htm.
5. ↑ "Tuniu boycott ends as tour operators come back in the fold under CNTA oversight". ChinaTravelNews. Apr 27, 2016. https://www.chinatravelnews.com/article/91540.
6. ↑ Ren, Shuli. "Tuniu Tumbles On Supplier Boycott: Oversold, Says Morgan Stanley". Barrons. http://blogs.barrons.com/asiastocks/2015/04/23/tuniu-tumbles-on-supplier-boycott-oversold-says-morgan-stanley/.
7. ↑ "Tuniu Announces US$150 Million Share Repurchase Program" (Press release). PR Newswire. August 23, 2016.
8. ↑ "China's Travel Site Tuniu Hurt by Economic Woes, Stronger Rivals". Bloomberg.com. 2016-04-04. https://www.bloomberg.com/news/articles/2016-04-04/china-s-travel-site-tuniu-hurt-by-economic-woes-stronger-rivals.
9. ↑ "China's Tuniu wins support from TAT". September 5, 2024. https://www.ttrweekly.com/site/2024/09/chinas-tuniu-wins-support-from-tat/.
10. ↑ "TAT and Nanjing 'Tuniu' International Travel Service Sign Letter of Intent". August 31, 2024. https://www.thailand-business-news.com/tourism/159409-tat-and-nanjing-tuniu-international-travel-service-sign-letter-of-intent?rand=39472/.
11. ↑ "Tuniu Appoints New Director". http://asia.tools.euroland.com/tools/Pressreleases/GetPressRelease/?ID=3210345&lang=en-GB&companycode=cn-tour&v=cn-tour_press.
12. ↑ "Tuniu and Ctrip Sign Strategic Collaboration Agreement" (Press release). GlobeNewswire. December 10, 2014.
13. ↑ "Tuniu Announces US$148 Million Investment in Aggregate from a Group of Investors" (Press release). GlobeNewswire. December 15, 2014.
14. ↑ Cowen, Martin (May 8, 2015). "China's Tuniu secures $500 million led by JD.com". Phocuswire. https://www.phocuswire.com/Chinas-Tuniu-secures-500-million-led-by-JD-com.
15. ↑ "Tuniu Announces the Acquisitions of Two Travel Agencies" (Press release). GlobeNewswire. March 9, 2015.
16. ↑ "Tuniu Announces the Completion of US$500 Million Investment from HNA Tourism" (Press release). PR Newswire. January 21, 2016.
17. ↑ "Who Will Challenge Ctrip's Internet Travel Supremacy In China?". https://www.chinatechnews.com/2016/07/18/23776-who-will-challenge-ctrips-internet-travel-supremacy-in-china.
18. ↑ "途牛网管理层：携手林志颖 打造广告界"去哪儿"-搜狐滚动" (in zh). https://roll.sohu.com/20140311/n396414135.shtml.

## External links

* Official Website

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