Qihoo 360 Teams Up with Alibaba for Shopping Search
Qihoo 360 Technology Co (NYSE: QIHU), the developer of China's most used antivirus software, has put online a shopping search domain at 360.etao.com, which is linked to Alibaba Group Holding Ltd's shopping search engine Etao.com. Cooperating with e-commerce conglomerate Alibaba is part of Qihoo 360's strategy as a latecomer to the online search market, a Qihoo 360 executive said. Qihoo 360 launched its search engine So.com in August 2012 and snatched a 10% market share in just several months thanks to a large number of users of its antivirus and 360 Browser. It hopes to capture a 15% to 20% share of China's search market after hiring several former Google employees, Qihoo 360 CEO Zhou Yongyi said earlier this year without revealing a timetable for the goal.
Home Inns Depicts Slack Market
Home Inns & Hotels Management Inc (Nasdaq: HMIN), China's biggest budget hotel operator by revenue, said the nation's travel market, especially business travel, is less than invigorated despite no significant deterioration in the market since Q4 2012, Deutsche Bank says in a report on its Access Asia Conference. Northern China suggests stronger growth momentum as a less penetrated lodging market compared with the coastal area, due to weak business travel activity. With 37% of the portfolio located in Shanghai and the Yangtze River Delta, Home Inns' management expects motel integration to draw to an end as the company performs to meet its original expectations on both occupancy improvement and ADR incremental re-pricing. The company posted a $3.15 million loss for Q1 2013 as the entire industry took a blow from economic slowdown.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..