PO application submitted to the United States cited concerns about earnings tuniu gross profit marg

in the Alibaba (scroll information), Jingdong (scroll information) Sina mall, micro-blog and other companies have sought after the United States market, tuniu.com (hereinafter referred to as the way cattle) has officially joined the ranks.

April 5th, the way cattle to the U.S. Securities and Exchange Commission (SEC) submitted its IPO (initial public offering) application, securities code TOUR, plans to raise funds up to $120 million.

although Ctrip, eLong, with the way other sites are involved in the holiday product category, but the way cattle is the holiday products as the core business.

, however, was established nearly 8 years, the way cattle has not been profitable, its 2013 net loss of 139 million yuan, in 2012 net loss of 107 million yuan, net loss of 123 million yuan in 2011. In addition, the way cattle are currently less than 10% gross margin, but also raises questions about the industry. For its ability to reverse losses, Internet watchers Liu Xingliang bluntly: it is difficult".

roots leisure tourism

was founded in 2006 in the way cattle began providing online travel booking service since 2007. Before IPO, tuniu directors and executives jointly hold 86.4% of the shares of the company, the founder of CEO, Yu Dunde held 10.9%.

the site is mainly with the group tour, self-help, self driving tour, hotels, scenic spots tickets, cruise and company travel booking and other leisure travel services, has accumulated more than 4 million 500 thousand people travel service.

prior to the IPO, tuniu won a total of several rounds of financing, which is B round of investment GobiPartners A round of investment, DCM and C by the lead investor Sequoia Capital led the round of investment.

last September, tuniu completed D round by Temasek (Temasek) investment companies, DCM companies and other joint investment of approximately $60 million financing. At the same time, Alibaba former executives Tang Zhengrong joining tuniu office CTO.

Tuniu network

prospectus, the company in 2013 total revenue of 1 billion 962 million yuan, 772 million yuan and 1 billion 120 million yuan in 2011 than in 2012. Among them, with the group tour business revenue of 1 billion 893 million yuan, in 2012 this figure is $1 billion 75 million, in 2011 was $751 million, self travel business revenue of $48 million 800 thousand, in 2012 was 32 million 400 thousand yuan, in 2011 was $17 million 600 thousand.

from the IPO file, the way cattle business consists of three parts: team travel, travel and other. Among them, the team travel the way cattle are the most dependable source of income, from 2011 to 2013 the income was 751 million yuan, 1 billion 75 million yuan, 1 billion 893 million yuan, accounting for more than 90% of total revenue share. Tuniu described himself as "a leading online leisure travel company, and in 2013 the first team travel market". < yuan

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