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Tujia Raised 400M in Two Rounds
Chinese vacation rental service Tujia revealed that the startup has raised a combined RMB 400 million in Series A and Series B round of financing from investors including GGV Capital, Lightspeed Venture Partners, CDHFund, Qiming Ventures, CBC Capital, Ctrip as well as HomeAway, according to a post published on Sina Weibo, the Chinese equivalent to Twitter, by its CEO Mr. Luo Jun.
Tujia was cofounded in late 2011 by former GM of Sina Leju, a housing platform, and Melissa Wang, CTO of Escapia. It raised its first round in May of 2012. The new funding, according to the company, would be used to scale up operation and improve customer experience.
The rare example of successfully raising two rounds within the time span of less than a year at a time when VCs normally got more cautious about giving money points to the rise of share economy in China as some other variants like Mayi.com, Xiaozhu and Airizu ferociously contended against each other for a possibly red sea.
Staffed by some 1000, Tujia now operates in 65 Chinese cities and 45 overseas cities like Reykjavik, Stockholm, Paris, London, Berlin, Istanbul, Los Angles, San Francisco and so forth.
Image credit: Tujia.com
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