China

Airbnb rival in China Tujia has just raised $300 Million

Tujia, China’s biggest short term property rental company is now valued over $1.5 billion. The company looks to cater towards the ever growing demand of Chinese tourists who visit the country for independent travel.

Started in 2011, just within 4 years – Tujia became a brilliant dollar startup in 2015. This growing Chinese startup has now over 650,000 online listings as said in a statement and is far ahead of its competition Airbnb.

Tujia‘s founder Luo Jun said that the funds will be used to improve and standardise the firm’s accommodation, invest more in domestic real estate market as well as in foreign markets.

This brackets Tujia right up there with other Chinese online giants such as Alibaba, Baidu etc. Is China turning out to be the benchmark for online business success after USA?. We certainly believe so.

Do you?

 

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Written by Hisham Sarwar

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