Online Travel Journal 117go Secures $20 Million Series B Funding, Launches New Product

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tao117goInterface of Tao.117go

Chinese trip journal and experience sharing service 117go received $20 million of Series B financing from Softbank China Venture Capital for user base expansion and branding (hat-tip to Tnooz). Before the announcement of this round, the company has raised previous rounds from Redpoint Ventures and Alibaba Group.

117go is a travel diary app supporting the sharing of photos, locations, stories, among other things in a timeline. Launched in October 2011, the service now claimed millions of registered users, with the number of daily active users stands at more than 200K. Tang Yibo, former exec of Chinese leading online travel service Ctrip, joined 117go as president last year.

The company recently released  Tao.117go, a new app for tourism service reservation in travelling destinations. Under the slogan of “Travel Like a Local”, this app will recommend and help users to reserve selected travelling services based on LBS technologies. Travelers also can pay the service via WeChat payment or AliPay.

The company’s competitor Breadtrip has booked around $10 million in Series B financing led by CBC and followed by Vertex Venture, an existing investor who injected $2 million in Series A. Another similar trip story sharing platform Chanyouji also received undisclosed amount of funding from Ctrip last year.

image credit: 117go