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Trip.com Group Limited is a multinational travel agency headquartered in Shanghai, China. It is the largest online travel agency in China and one of the largest travel service providers in the world.[3]
 | |
| Formerly | Ctrip.com International, Ltd. |
|---|---|
| Company type | Public |
| Industry | Travel agency |
| Founded | June 1999 |
| Headquarters |
|
Area served | Worldwide |
Key people | |
| Revenue |  US$6.3 billion (2023)[1] |
| US$1.4 billion (2023) | |
| Total assets |  US$30.865 billion (2023) |
Number of employees | 36，000 |
| Subsidiaries | |
| Website | group |
| Footnotes / references [2] | |
| Trip.com Group | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Simplified Chinese | 携程集团 | ||||||||||
| Traditional Chinese | 攜程集團 | ||||||||||
| Literal meaning | carry journey group | ||||||||||
| |||||||||||
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, Travix, and MakeMyTrip.[2] It operates websites in approximately 40 languages and 200 countries.[2] The company is ranked 820th on the Forbes Global 2000.[4]
History
Summarize
Perspective
The company was founded as Ctrip.com by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.[5][6]
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. It appreciated 86% to close at $33.94 per ADR in its first day of trading. The stock traded at a peak of $37.35 on its first day of trading, making it the first company since the November 2000 IPO of Transmeta to double its price in the first day of trading.[6]
On August 6, 2014, Priceline.com, announced that it will 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.[7][8] The investment was increased by $250 million in May 2015.[9]
In November 2016, the company acquired Skyscanner for £1.4 billion.[10][11] That same month, Jane Sun became the CEO of Ctrip.[12] She had joined the company in 2005.[13]
On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website.[14][15]
In February 2018, Ctrip launched TrainPal, an online ticketing platform[16] featuring split ticketing,[17] in the United Kingdom.[18] Accredited by the National Rail of the UK,[19] TrainPal mainly provides services for the UK, and other European countries.[20]
In September 2019, Ctrip completed a share exchange with Naspers and became the single largest shareholder of MakeMyTrip.[21][22]
On October 25, 2019, at its 2019 annual general meeting of shareholders, it was approved to change the Company name from "Ctrip.com International, Ltd." to "Trip.com Group Limited".[23]
On April 19, 2021, Trip.com Group was listed on the Hong Kong Stock Exchange.[24]
On August 16, 2024, Ctrip Asia Live Broadcast Center was unveiled in Thailand.[25]
Remote work
The company is a proponent of scientific management.[26] After a 2012 randomized control trial using 242 employees and sponsored by professors at Stanford University and Peking University 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 allowed remote work company-wide.[27]
References
External links
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