Chinese travel company Ctrip acquires Trip.com

Chinese travel company  Ctrip has bought a Palo Alto, California based startup called Trip.com.
Trip.com ( a one-stop travel booking services available in 13 languages ) was founded in 2010 by former Myspace exec Travis Katz and has raised $39 million from investors like Battery Ventures, Redpoint and others. Trip.com has built an extensive hotel booking network with more than 1.2 million hotels in 200 countries and regions. Ctrip , founded in 1999 in Shanghai, China, is a leading provider of travel services  and it trades in the US on NASDAQ with a market cap of $25 billion.