Tuesday, March 13, 2007

Bad day for eLong, Good day for Henrik

eLong's recent financial results are in and...ouch...they are not good. They announced a a fourth-quarter loss of $234,000 - while a big improvement on the same time last year loss of $1.1 - it is down on the third-quarter profit of $337,000. The stock took a pounding, dropping 22% of Friday and are now trading at almost a two year low.

The race to catch up with Ctrip is now not the main area of concern for the moment. Instead focus must be on a return to profitability.

New arrival to Asia but experienced online exec Henrik Kjellberg has been promoted to Chairman to coincide with his new role as Expedia's AsiaPac President. Congrats to Henrik - lots of work to do.

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