Online Travel Platform 'Lvmama' Secures RMB 800 Mln Funding

Tencent Tech, 2/04/16

Shanghai-based Joyu Culture Communication (835188.NEEQ), operator of online Chinese tourism platform Lvmama, recently announced completion of RMB 800 mln funding from Zhejiang-based film and TV production and distribution company Huace Film & TV (300133.SZ) and Shanghai-based Cunhua Zhongjing Investment Partnership. Lvmama founder Hong Qinghua said that the company will enter into cross-sector partnerships involving film and TV intellectual property (IP) and its travel business, and will invest additional resources in the "film and TV + travel" domain.

Lvmama, founded in January 2008, focuses on online hotel and plane ticket booking and travel product reservation services offered through the Lvmama platform. Joyu's offline business focuses on planning, design, and marketing services for tourism sites and destinations.

Joyu completed RMB 9-digit Series D funding in August 2014 and listed on China's National Equities Exchange and Quotations (NEEQ) OTC-style agency share transfer system in December 2015.

Editor's Note: For more information on this topic, please see "Online Travel Platform 'Lvmama' Lists on NEEQ," MD 12/17/15 issue.

Keywords: M&A Cunhua Zhongjing Hong Qinghua film Internet Lvmama online travel Joyu Culture Communication Huace 300133.SZ 835188.NEEQ television TV content production film production

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