Would you buy stock in Qunar? Soon, you might get the chance. TechWeb reports a source in investment circles as saying that assuming the market is feeling receptive to Chinese tech companies, the Baidu-backed Chinese online travel company is planning an IPO on the US market, with the target set at $1 billion.
IPO rumors have been swirling about Qunar since late 2011, and Qunar’s CEO has openly said the company is interested in an IPO, but apparently the rather unstable performance of Chinese tech stocks in the US market has prevented any concrete moves to date. Even so, we put Qunar on our ‘likely IPO’ list at the beginning of this year, and this latest TechWeb report would seem to confirm that the company is still on track for a 2013 IPO.
Earlier this year, the company raised nearly $60 million in a new round of funding.
(via TechWeb)
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