iQIYI (NASDAQ:IQ) saw the price of IQ stock rise Monday following news of a deal with Ctrip.Com (NASDAQ:CTRP).
The Ctrip.Com deal that has IQ stock soaring today has to do with a special offers for its VIP members. Those holding a VIP member ship with iQIYI will gain access to a range of perks from Ctrip.Com. These perks are typically only for Prime Members of Ctrip.Com.
Ctrip.Com is a Chinese travel company. It operates the largest online travel agency in Asia and the second largest in the world. The benefits its members see include discounts at hotels, VIP lounges at airports and more.
The deal between iQIYI and Ctrip.Com will give the former’s Prime Members access to these, and other benefits, for one year after signing up. The offer can also be redeemed by IQ Prime Members as late as June 30, 2019.
“‘V7’ is the highest of iQIYI’s seven levels of VIP membership ranking for users. Higher levels of membership are reached by accumulating points, calculated through factors such as membership payment status, number of logins and amount of content viewed,” iQIYI said in a statement. “The new partnership with Ctrip will add to the extensive list of benefits available exclusively to iQIYI V7 VIP members, which already includes discounted cinema tickets, priority attendance at star-studded offline events and exclusive showings of new blockbusters.”
IQ stock was up 8% and CTRP stock was up 2% as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
