Shanda Group-backed Malaysian company NIDA aims to be Airbnb for economy hotels

Chinese conglomerate Shanda Group invested $5.6 million Series A in Malaysian startup NIDA on February 2017 in order to further tap into Southeast Asia regions, the next booming travel destination for Chinese tourists.

In fact, Southeast Asian countries remain top destinations for Chinese outbound tourists. Thailand, Singapore, Vietnam, Malaysia, Indonesia and the Philippines are among the 10 most popular destinations for outbound travelers during the National holiday according to the China Tourism Academy.

But why did the global privately-owned investment group Shanda (盛大集团) invest in the 3-year-old Malaysian company?

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