Yunfeng Capital backed by Jack Ma invests in Xiaozhu.com, Airbnb’s No.1 rival in China

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Xiaozhu entered its fifth year of establishment in 2017 when from China the online colocation industry has entered an explosive period. Since its last funding round in 2016, Xiaozhu has grown rapidly and has become the absolute leader in terms of market share, service system and other areas.

“After 5 years of exploration, Xiaozhu has pioneered the shared tenancy business model in China and created a new two-way market from scratch by building a full service system that includes cleaning and photography services. With the largest market share, Xiaozhu.com will continue to be the leader in upgrading products in the future, ”said Kelvin Chen Chi, co-founder and CEO of Xiaozhu.

Home sharing was started and flourished in Western countries. However, it has not been easy for overseas colocation companies to develop into China. “Only local businesses with a sense of mission and a commitment to the domestic market can have a chance to gain leadership in the Chinese market. Kelvin added.

Li Na, Managing Director of Yunfeng Capital, managed this round of financing. She said, “By breaking out of Airbnb’s business model, Xiaozhu has developed a proven roommate model to be developed in China. Yunfeng Capital is looking forward to assisting and helping Xiaozhu to grow rapidly and lead the upgrade and transformation of the Chinese hosting industry, providing better hosting experiences to more users. “

Li Xiao, founding partner of Joy Capital, said: “Joy Capital is very optimistic about the sharing economy. Now that the whole market is maturing rapidly, we believe Xiaozhu will continue to dominate the colocation industry.

Cheng Yu, a partner of Morningside Ventures claimed that the Xiaozhu team has taken a seemingly slow but correct way to cultivate this market from scratch and create value for users and that Morningside Ventures strongly believes in it. huge opportunity of this market and to Xiaozhu’s business model. .

Xu Xin, Chairman of Capital Today, said, “Believing in the sharing economy, we invested in Xiaozhu three years ago and waited for spring. And now, spring has arrived.

Founded in 2012, Xiaozhu now has listings in over 400 destinations inside and outside of China. As roommates become popular, people are focusing more on the security of it. “Xiaozhu will invest more resources to introduce technologies that further improve the security of home sharing and create a sustainable platform ecosystem for the whole industry,” Kelvin said.

SOURCE Xiaozhu.com


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