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China Booking Site 17u Attracts $82 Million in Funding With IPO on Agenda

Excerpt from Venture Beat

Skift Take

Sightseeing tickets are a battleground in the Chinese online travel market, and 17u’s latest funding will help it compete in this area.

— Dennis Schaal

17u.cn, a Chinese online travel service provider, has received $82 million in a massive round of funding. The deal was led by Boyu Capital with participation from existing investors Oriza and Asian juggernaut Tencent.

Launched in 2004, 17u started with business-to-business online travel products. Until now, it has demonstrated little difference from other consumer-facing online travel services like Ctrip. 17u.cn provides hotel reservations, flights, cruise booking, sightseeing tickets, services for self-travelers, group-buying deals, etc.

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