Shiji Holds A Majority In SnapShot By B2 Investment

2016-12-01

(December 1, 2016 Beijing) Shiji announced the B2 investment in SnapShot through Shiji’s wholly-owned subsidiary Shiji (Hong Kong) Limited. With the additional investment of EUR 17,952,900, Shiji holds 69.07% of SnapShot stock equity. Snapshot is one of the most important data-based platforms contributing to the Shiji development strategy.

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Shiji’s wholly-owned subsidiary Shiji (Hong Kong) Limited and Snapshot GmbH and its shareholders signed Investment Addendum “B2 Final” and Addendum “Fabric” on November 24, 2016. Shiji (Hong Kong) Limited will make the B2 investment.

Shiji (Hong Kong) Limited signed Share Issue Agreement with Snapshot on March 24, 2014, purchasing 12.5% stock equity with EUR 800,000;Later they signed Share Purchase Agreement on March 11, 2015 and made the B1 investment. Shiji (Hong Kong) Limited subscribed EUR 7,000,000 and increased its holding of 38.83% stock equity. With the B2 investment, Shiji (Hong Kong) Limited will subscribe EUR 17,952,900. After completing this investment, Shiji will hold 69.07% of SnapShot stock equity.

Snapshot provides 3 core products, a data platform, online and offline technical training of hotel revenue strategies, and hotel demand management consulting business. After the B1 investment, Snapshot has completed the framework of the data platform and the development of Analytics, a data analysis application. SnapShot has connected with over 1,000 hotels’ property management systems (PMS) and established cooperation with more than 40 data partners. So far, Analytics has signed more than 2,000 hotels.

“Our continued investment into Snapshot demonstrates how serious we are on our mission to become an application service platform provider. Creating solutions that facilitates actionable data results across various data points for the Hospitality industry is an important role Snapshot provides today. Snapshot will continue to evolve with more data points over time.” stated Kevin King, Chief Operating Officer, Shiji Group.

Till now Shiji has increased its investment in Snapshot twice. “With 2 years’ cooperation and observation, Shiji believes Snapshot is capable to meet expectation and has a great value on Shiji’s transformation from software provider to platform service provider. With the B2 investment in Snapshot, Shiji holds a majority. Snapshot is one of the most important data-based platforms contributing to the Shiji development strategy.” Says Mr. Li Zhong Chu, Chairman, Shiji Group.

For more information of SnapShot and its products and services, please visit their website:http://www.snapshot.travel