Tujia raised $300 million led by Ctrip and All-Stars Investment

Tujia raised a new US$300 million funding led by Ctrip and All-Stars Investment. Unicorn Airbnb's main competitor in China is to reinforce previous online plans in online and offline business schemes. China Renaissance's New Economy Fund, Glade Brook Capital, and G Street Capital also participated in this funding round.

Tinuku Tujia raised $300 million led by Ctrip and All-Stars Investment

Tujia was established in 2011 and has become Airbnb's biggest competitor platform in China. Tujia became a startup unicorn in 2015 where previously it had no competitors until Airbnb officially entered China in 2016. The latest funding round put the company valuation at US$1.5 billion.

Airbnb has been slow to grab market share in China. By the end of 2016, the company established a Chinese entity under the Aibiying brand which means "greeting each other with love", but netizens say the name associates with a dirty motel love like an hourly hotel for sex.

On the other hand Tujia has grown without real competition by Airbnb and others. The company claims to have a portfolio covering 345 domestic destinations and 1,037 foreign destinations with over 650,000 online listings.

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