Comment on China’s AirBNB Tujia Valued at $1B USD Following $300M In Funding by Airbnb's major China rival Tujia raises $300M more at a $1.5B valuation | Digitpol

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2015-08-04 00:00:00

Chinese home rental service Tujia has announced today US$300 million in series D financing at a valuation of more than $1 billion USD, adding a new title to China’s lengthening list of billion-dollar-valued tech startups. The financing will push Tujia’s total funding to over $464 million USD. The site raised a $100 million USD Series C last year after receiving a combined 400 million RMB ($64 million USD) in Series A and Series B from GGV Capital, Lightspeed Venture Partners, CDH Ventures, Qiming Venture Partners, Ctrip and HomeAway. China’s shot-term rental market is growing at a staggering 159.3% YOY and is worth an estimated 10.5 billion RMB in 2015, according to data from iResearch. The huge market potential has given rise to several domestic players including Ganji-backed Airbnb clone, Mayi.com, and Xiaozhu, the latter of which just secured $60 million USD in round C funding.