Alibaba chairman Jack Ma invested in Xiaozhu.com, Airbnb’s No.1 China rival
Beijing – 1 November 2017 –
Xiaozhu.com, China’s largest house-sharing platform, announced it had raised $120 million in its latest financing round, making it a unicorn startup.
This round of funding is led by Yunfeng Capital. Founded in early 2010, Yunfeng Capital is named after Alibaba chairman Jack Ma and Target Media founder Yu Feng. Existing investors including Joy Capital, Morningside Ventures, and Capital Today also participated. TH Capital is the exclusive financial advisor.
Xiaozhu entered its fifth year of establishment in 2017 when China’s online house-sharing industry entered the explosive period. Since its last round of funding in 2016, Xiaozhu had grown rapidly and become the absolute leader in market share, service system and other areas.
Founded in 2012, Xiaozhu now has listings in over 400 destinations in and outside of China. As house-sharing becomes popular, people focus more on the security of it.