Listed on Nasdaq (TOUR); received a minimum-bid-price deficiency notice in 2024
The rise & fall
7 moments · 2006–2024
The key moments.
2006
🌱
2006
Founded in Nanjing
An online agency selling packaged leisure tours to China's new middle class.
Wikipedia
May 2014
May 2014
Lists on the Nasdaq
Tuniu goes public as Chinese online travel booms.
Nasdaq
2014
🦄
2014
Joins the unicorn club
A post-IPO run carries the ADSs to an all-time high of $23.19 that August.
Macrotrends
2015
📈
2015
The peak: JD.com buys in at ~$1.3B$1.3B
JD.com invests $350M for a 27.5% stake, implying a valuation well above $1B.
JD IR
2016
💔
2016
Slips out of the club
Price wars with Ctrip and persistent losses drag the market cap below $1B.
Macrotrends
2020
2020
The pandemic grounds Chinese travel
Packaged tours are among the last things to come back; the collapse of travel crushes what was left.
Macrotrends
2024
2024
Nasdaq warns: below the $1 minimum bid
With the market cap under $150M — a small fraction of the JD-era valuation — Tuniu receives a deficiency notice.
Nasdaq
How it happened
Tuniu was one of China's largest online leisure-travel agencies, specializing in packaged tours, and listed on the Nasdaq in May 2014. Its shares peaked that August and the company drew a $350M investment from JD.com in 2015 — which took a 27.5% stake — at an implied valuation well above $1B.
But intense competition from Ctrip/Trip.com, persistent losses and then the pandemic collapse of travel crushed it. Its market cap has since fallen to under $150M, far below the $1B line, and in 2024 it received a Nasdaq notice for trading below the $1 minimum bid price.
Source: Macrotrends / JD IR / Nasdaq (China online-travel agency; May 2014 Nasdaq IPO, all-time-high ADS $23.19 Aug 2014; JD invested $350M for 27.5% in 2015, implying ~$1.3B; market cap ~$0.05–0.13B in 2024-26, below the $1 minimum bid)
