Xiaozhu funding stimulates home-share market
By Fan Feifei | China Daily | Updated: 2018-11-12 07:41
China's burgeoning and fiercely competitive home-share market received a fresh shot in the arm when Xiaozhu Inc, an online booking platform, secured around $300 million in its latest round of funding on Oct 10.
Often dubbed China's answer to Airbnb, Xiaozhu found new backers in Yunfeng Capital, co-founded by Jack Ma, executive chairman of Alibaba Group Holding Ltd, and Advantech Capital, which jointly led the funding round.
Other investors included GIC, Singapore's sovereign wealth fund, Joy Capital, Morningside Ventures, and Capital Today. They were advised by TH Capital.
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