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Where are you going this weekend? This event-finding app lands millions of USD in series-B financing

Zhoumo qunar, a local weekend event finder app, has raised tens of millions USD in Series B financing, Chinese tech media reports.

Literally translated, “Zhoumo Qunar” means “Where are we going on the weekend?” in English.

The majority of the investment is from new investor Momo, China’s Tinder-like dating app, along with existing investors Blue Lake Capital and Matrix Partners China.

The nearly three-year-old startup will use the new capital to search for, to incubate, and to invest in premium events. These events will often be themed around particular brands or cultural franchises, like Disneyland, The Lion King, or Case Closed, a Japanese anime popular in China. The reason behind the preference for themed events is that these events can access a loyal fan base and can be easily promoted to generate more revenue. These events will be promoted in addition to the preexisting functions of the app.

“My product helps users find local events. I intentionally avoided the popular outbound travel market, because customers who would open that kind of products far less frequently, and the cost to get customers registered would be very high,” said Xiao Peng, Founder and CEO of this company.

The company claimed that it has attracted 20 million registered users, and that it generated monthly revenue of tens of millions RMB. Its revenue consists of three parts: ticket commissions, event commissions and advertising.

(Top photo from Baidu images)

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