Background
Liang Jianzhang was born in 1969, Cina. Liang was academically gifted as a child, winning the gold prize of the first national computer programming contest at the age of 13.
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Jianzhang Liang
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Liang Jianzhang is one of the four co-founders of Ctrip.com International Ltd, Liang Jianzhang served as the company CEO from 2000 to January 2006, chairman of the board of directors since August 2003, and has played a key role in transforming Ctrip into a top ranked travel service company in China.
Education
He taught himself the regular high school curriculum, and at the age of 15 was admitted into the nationally renowned Fudan University. A year later, Liang applied to and was accepted by the Georgia Institute of Technology, and graduated with masters and bachelors degrees in computer science at the young age of 20.
Career
However, after working in Oracle’s R&D department for three years, Liang sensed the huge potential for start-up companies during a visit to China. He decided to shift his focus from technology to management and asked for a transfer. In 1997, he was appointed as head of the Enterprise Resource Planning Consulting Division of Oracle China.
In 1999, Liang left Oracle, and together with Ji Qi, Shen Nanpeng, and Fan Min, he co-founded Ctrip.com, China’s first business website providing travel services. Within one year, Ctrip completed two rounds of financing amounting to $5 million, and Ctrip.com became the largest travel website in China.
As a start-up, Ctrip imitated the operations model of American travel e-commerce websites such as Expedia.com, and benefited from the profit model of portal websites by attracting internet users through information services. In November 2000, Ctrip purchased the earliest and largest national hotel-booking center, Modern Yuntong and became China’s biggest hotel distributor. Two years later Ctrip acquired the largest flight-booking center in Beijing, Seabank Air Service Company, and set up its own national flight reservation service center. On 9 November 2003, Ctrip was listed on the NASDAQ with a first issue price of $18, by closing time, its shares had risen to $33.94, thus creating a record one-day increase of 88.56 percent on the NASDAQ. From its IPO Ctrip raised capital of $75.6 million using it to fund more acquisitions in the following years, among them, two important travel agencies, Huacheng Southwest Travel Agency and Shanghai Cuimin International Travel Agency.
Under Liang the company has been transformed from an internet travel website to a comprehensive travel service company. With Liang’s substantial IT skills and managerial experience, Ctrip formed the so-called ‘click + brick’ business model by combining both online and offline resources, contrary to the usual process from offline to online.
Among the factors that have contributed to Ctrip’s success are the rapid development of the Chinese tourism market, the elite start-up and management team, international finance, strong customer service backup with call center, the acquisition of various companies, and the combination of a traditional travel service and information technology. Liang values customer service quality above all; in 2006 Ctrip’s call center employed more than 750 people, over half of the total workforce. In 2002, Ctrip established an economy hotel chain and Liang has served on the board of Home Inns & Hotels Management, Inc. After just three years, it was named among the top ten most influential brands of Chinese hotel groups.
Ctrip is a leading comprehensive travel service company in China that provides hotel reservations, air ticketing, packaged vacation tours including hotel accommodation, flights and transportation, travel guidebooks, advertising and other related products and services. The company aims at business and independent leisure travelers. Although providing other products and services, hotel reservations and air ticketing are its core business. In 2006, 57 percent of its revenues were from the hotel reservation business and 36 percent were generated from the flight reservation business. It is the largest online consolidator of hotel accommodations in China by the number of room nights booked, and the largest online consolidator of air tickets in China in terms of the number of air tickets booked and sold. Ctrip’s own flight reservation online system covers all the major domestic airlines and many international airlines. By the end of 2006, it had contracted with approximately 4400 hotels in China and 16 000 hotels abroad. During that year the company reaped revenue of $106.9 million (up 49.2 percent on 2005) with net profits of $30.8 million (up 7.3 percent compared to 2005).
With a personal wealth of $188 million, Liang was ranked number 20 among the top 50 IT tycoons in 2006 by the Hurun Report and was number 368 on the 400 Richest Chinese List in 2005 by Forbes. Although a very rich and successful entrepreneur, Liang remains calm and wise. When reflecting on his success story, he believes that every over- seas Chinese student should have his or her own long-term goal and plan.
Education
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1984
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1985
Career
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1997
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1999
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November, 2000