Vacation Rental Site Tujia Lands First-Round Funding

Sina Tech, 5/16/12

Chinese mid-range & high-end vacation rental reservation site Tujia.com has received its first round of funding from Lightspeed Venture Partners, CDH Investments, online travel service provider Ctrip (Nasdaq: CTRP), and US-based vacation rental site HomeAway.

Tujia was launched by Luo Jun, former co-president of Chinese online real estate service provider China Real Estate Information Corporation (Nasdaq: CRIC) and former GM of Sina's (Nasdaq: SINA) real estate portal Sina House, and Melissa Yang, former CTO of vacation rental software solutions provider Escapia. The company has three major businesses: mid-range and high-end holiday apartment rental online reservation services; real estate housekeeping services; and apartment leasing service contracts (owners reside in their properties at any time of their choosing, leasing the property when they are not there).

While Luo Jun confirmed the funds had been received, he declined to specify the total amount. The funds will be used to expand the company's business nationwide as well as invest in R&D, marketing, product development, and services.

Keywords: Tujia HomeAway Melissa Yang Luo Jun Internet funding online real estate Ctrip online travel online reservation CDH Investments first-round CTRP LightSpeed Venture Partners short-term rental

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