It’s easy to see why Chinese e-commerce king Alibaba is reaching for a slice of China’s online travel pie. Online travel tracker PhoCusWright says that gross bookings in China’s online travel market hit $18.2 billion in 2013, making China second in the Asia-Pacific region only to Japan. With annual projected growth of 26% to 27%, online bookings will account for over a quarter of all Asia-Pacific travel bookings by 2016. At that time, China’s
Alibaba Group’s new Alitrip travel website in China is drawing a competitive response from Expedia, which has carved out a successful presence in Chinese online travel through its local unit, eLong. Expedia (EXPE), based in Bellevue, Wash., has long regarded Shanghai-based Ctrip.com (CTRP) as its chief rival in China. But Alibaba ‘s (BABA) Oct. 27 announcement that it’s turning Taobao Travel, part of Taobao.com, into an independent website named
When it comes to appreciating Viacom’s impact on popular culture, three letters can explain it: MTV. “How many television channels have been responsible for creating an entire generation, like the ‘MTV Generation?'” said Robert Thompson, director of the Bleier Center for Television & Popular Culture at Syracuse University. Viacom (VIA) launched MTV in 1981 and gained an identity as a hip company that connected with coveted young television