Chinese vacation rental site gets big funding, totals $64 million
Everything in China requires big money to scale, to the big scale that the country demands. Tujia is clearly on that path, and HomeAway was smart to partner and then invest.
Excerpt from TechInAsia
After attracting its first major financing in May of last year, the Chinese vacation home rentals startup TuJia has announced today that it has wrapped up series B funding. The startup had not previously revealed financial numbers, but today said that both rounds amounted to RMB 400 million (US$63.7 million) in investment.
TuJia’s series B saw participation from an all-star array of investors: GGV Capital, Lightspeed Venture Partners, CDH Ventures, and Qiming Venture Partners. Plus, China’s biggest travel booking site, Ctrip, contributed funds, along with America’s HomeAway – as both did in the last round.