Enjoy, a fast-growing startup in China, has raised $30 million in series C after it secured $23.5 million in total over the past three years. Meanwhile, China’s airbnb Zhubaijia has finally entered into China’s New Third board.
Restaurant booking app Enjoy secures $30m in series C led by CMC
China Media Capital (CMC), a private equity and venture capital firm in China, has led $30 million series C round of financing in Enjoy, mobile apps for discounted reservation service for high-end restaurants.
Costone Venture Capital also participated in this round, according to China Money Network.
“Life style and consumer upgrade is an important area that CMC wants to focus on,” Li Ruigang, founder of CMC, said. “(We will) provide support on media resources, industry synergy and strategic development to Enjoy.”
Enjoy, launched in 2014, is an on-demand location-based services platform covering in seven second-tier cities in China. It claims its monthly transaction is more than RMB50 million.
The company raised $1.5 million series A in 2013 and $7 million series B in 2014. It raised $15 million in 2015, the reports say without specifying the investors in those rounds.
CMC was founded in 2009 by Li, the chairman of Shanghai Media Group. Its first deals were the purchase of a clutch of Chinese language TV Channels, followed by Star’s Fortune Star film library, the world’s largest single collection of Chinese movies.
Last month, CMC announced to acquire a minority stake in Brian Grazer and Ron Howard’s Imagine Entertainment and is known as the most active Chinese investor in Hollywood’s industry.
China’s Airbnb Zhubaijia list on China’s new third board
Zhubaijia, an online booking for rental apartments for short trips, has been listed on China’s New Third Board, reported by China Money Network.
It has become the first company in the sharing-economy category to list in China, the media cited.
In August last year, it raised RMB200 million series B round of financing led by GoldStone Investment Fund. AB Capital, Neway Group Holdings Ltd, UC Capital and Legend Star also participated in this round.
Then, HNA Tourism announced the strategic partnership by investing RMB 500 million in Zhubaijia in September.
Founded in 2012, Shenzhen-based Zhubaijia focuses on Chinese tourists traveling overseas with short-term home rentals in 60 countries and millions of available home rentals.
Shenzhen-based Zhubaijia was founded in 2012 to supply short-term home rentals for Chinese outbound travellers. It has expanded its accommodation supplies by signing independent contracts with property rental firms such as HomeAway since 2013 to meet customers’ demand.
Currently, it has range from ordinary apartments to specialty properties like European castles in over 60 cities that are popular destinations for Chinese in Europe, North America, Asia Pacific, Japan, Korea and Thailand.