Expedia surfing for new online acquisitions

BEIJING - Expedia Inc, an Internet-based travel agency, announced on Wednesday it will pump at least $50 million in China by the end of 2011 and is also looking for new acquisition targets in the latter half of this year.

Expedia plans to gradually increase its investment in the Chinese market and does not rule out the possibility of purchasing other Chinese Internet enterprises, said Dara Khosrowshahi, chief executive officer of Expedia.

Expedia entered the Chinese online travel market in 2007 by purchasing eLong.com, a major domestic online travel firm.