Destinations Asia

Alibaba Group Leads $20 Million Round for Chinese Outbound Travel Giant ByeCity

Excerpt from TechNode

Mar 13, 2014 11:30 am

Skift Take

ByeCity has a host of new opportunities available to it as the crackdown on organized group travel has resulted in an even bigger boom in independent outbound Chinese travelers.

— Jason Clampet

Free Report: The Changing Business of Extended-Stay Hotels

ByeCity

The homepage of ByeCity.com. ByeCity


ByeCity, a Chinese outbound traveling service, announced that it secured nearly $20 million of Series B financing from Alibaba Group and CBC Capital.

The company has received around 10 million dollars from JAFCO Asia and Investor Growth Capital in 2008 and an undisclosed amount from TaishanXD in 2011. The capital raised will be used in network construction, branding and enhancement of user experiences.

Read more about the subject in our trends report “The Rise of the Independent Chinese Traveler.”

Read the Complete Story →

Tags: , , ,

Next Up

More on Skift

Why Business Class Is the New First Class
Atlas Obscura Wants to Become the National Geographic of the Digital Age
U.S. Outbound Tourism Snapshot for July 2014
4 Strategies to Better Engage the Millennial Traveler