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Report: Unicorn startup Xiaozhu.com in US$100M funding talks

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Report: Unicorn startup Xiaozhu.com in US$100M funding talks

Chinese homesharing platform Xiaozhu.com is in early stages of discussions for roughly US$100 million of investments, The Information reported, citing people familiar with the matter.

The Airbnb Inc. rival is said to be talking with potential investors but the new funding round is still uncommitted, the technology industry-focused media outlet reported June 15.

The Information noted that a spokeswoman for Xiaozhu declined to comment.

The unicorn startup, which is valued at over US$1 billion, raised US$120 million in November 2017. Beijing-based Xiaozhu was established in 2012 and has listings in at least 400 local and international markets. Its investors include Jack Ma's Yunfeng Capital private equity firm and venture capital firm Joy Capital. In 2016, it was reported that Airbnb was planning to buy the Chinese home rental business.