Social travel startups still alive in China, as Mafengwo gets $15 million funding
We’ve been aggressive on social travel startups from the beginning, but hybrid transaction-heavy models at scale — like China allows — definitely have a future.
Excerpt from Technode
Mafengwo, a Chinese social travel service, has raised $ 15 million series B financing…with existing investor CapitalToday, who invested $ 5 million in last round, and QimingVentures.
With more than one million entries of user-gen travel guides and over five million ratings and reviews, Mafengwo provides travelers with info..on hotels, flights, travel routes, visa, insurance, etc.
In 2012, the platform integrated..booking services including Booking, Agoda, Ctrip, and eLong.