This new round of investment was led by Tencent, and Priceline also participated with a USD 450 million.
It is also expected a commercial agreement where Agoda, a brand of Priceline Group focused on Asia, will cooperate with Meituan-Dianping’s Travel & Leisure division, which sells lodging and transportation for domestic and international travel to Chinese consumers.
Meituan-Dianping was born from the merger of Meituan, a food delivery and group buying company, and Tencent-backed Dianping, a restaurant review app.
The company now claims a user base of more than 260 million shoppers. Agoda will benefit from the Meituan commercial relationship, leveraging different inventory on different marketplaces.
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