The strategy change occurs as eLong unveiled the formation of $100 million Mobile Travel Innovation Fund, generated from its cash balance, to encourage mobile development related to hotel bookings. CEO Guangfu Cui told analysts that the fund will target external angel investments in startups, venture investments in second rounds and later, and mergers and acquisitions. The fund will also fund eLong’s internal innovation, he added. The news comes as eLong, majority-owned by Expedia Inc., reported its second quarter financial results, including the fact that its mobile hotel bookings, which amounted to more than 20% of all room nights stayed, overtook its call center hotel bookings. Get the full story at Skift Read also "Like Ctrip, eLong reports 20% of hotel bookings now mobile"