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Despite stalled growth in China, Brazil and Russia, a wave of newly middle-class travelers from the BRICs and beyond will start visiting international destinations in the coming decades — dwarfing the numbers we’ve seen thus far.
When does a site stop being an imitator or clone and start being the site others are compared to? Probably at the $100 million Series C round.
Tujia.com, a Chinese vacation-rental website similar to Airbnb Inc., has secured $100 million from investors including Lightspeed China Partners, GGV Capital and Qiming Venture Partners, according to Ron Cao, a managing director at Lightspeed China.
CDH Venture, CBC, China Renaissance Capital and U.S.-based HomeAway.com Inc. were some of the other investors in the round. With many of Tujia.com’s existing investors re-upping into the Series C round, only China Renaissance Capital, also known as Huaxing, was a new investor.
More About Tujia:
- HomeAway Takes a Controlling Stake in its 21st Vacation Rental Company
- China’s Airbnb Is Teaching a Booming Ruling Class What ‘Sharing’ Is All About
- HomeAway and Tujia Offer Vacation Rentals to Chinese Traveling Abroad