China's Airbnb rival Xiaozhu raises $300m from Jack Ma's Yunfeng Capital

China's Airbnb rival Xiaozhu raises $300m from Jack Ma's Yunfeng Capital

Photo from Xiaozhu.com

Chinese short-term rental firm Xiaozhu.com said on Wednesday it has raised nearly $300 million in a funding round led by Jack Ma’s Yunfeng Capital, amid fierce competition from U.S. giant Airbnb Inc and local rival Tujia.com.

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