China’s Airbnb-esque Tujia is a new startup unicorn after $300M funding

(Image by Geoff Wilson)

China’s top Airbnb-like site today secured its biggest ever round of VC funding – to the tune of US$300 million. Luo Jun, the founder and CEO of Tujia, relayed the news this morning on his personal Weibo account (via QQ Tech).

Luo added that Tujia, which started operations in 2011, is now valued at over US$1 billion – so it’s officially a startup “unicorn”. It has raised a total of US$455 million from private investors in four major rounds. This newest round was led by Hong Kong’s All-Stars Investment, which is a new backer for Tujia, with The Ascott, a chain of serviced apartments that’s a part of CapitaLand, also joining in.

Tujia’s website shows a holiday home rental for US$160 per night.

All the money it’s raised makes Tujia effectively China’s seventh best-funded startup.

See: These are China’s 15 most well-funded startups – INFOGRAPHIC

Luo today brushed off suggestions of an IPO, telling QQ Tech, “Do you see Airbnb listed yet? No, Airbnb’s not listed.” US-based Airbnb is reportedly valued at an estimated US$25 billion.

Airbnb rival Homeaway has previously invested in Tujia and this partnership gives Tujia overseas property listings in over 60 foreign destinations that Chinese tourists can browse in their own language.

However, Luo revealed today that part of the latest funding round will go towards expanding Tujia’s own overseas listings for Chinese holiday-makers.

(Source: QQ Tech – article in Chinese)