Travel service platform Mafengwo secures USD 133M to build global tourism consumption guide, & more

Online travel service platform Mafengwo receives USD 133M for Series D


Founder: Cheng Gang

Founded  in: 2006

Financing status: RMB 881 million (USD 133 million) for Series D financing in 2017

Online travel service platform Mafengwo received USD 133 million for Series D on December 12 to invest in data development.

Mafengwo is an online travel platform that mainly provides travel information and booking services for independent travelers. Unlike other travel services, Mafengwo specializes in building online communities of travelers to share their experience, plans, information, tips, and diary entries, among others. Through the investment and operation in communities, Mafengwo has gathered large amounts of high-quality user-generated content and a good reputation among travelers, mainly between young people. It is paying attention to mobile terminals to enable users to enjoy travel services supporting smartphones anywhere, anytime.

Founded in 2006 in Beijing, Mafengwo’s service covers more than 60,000 destinations and 51 million points of interests worldwide. Currently, the company claims to have more than 120 million users with 85% of them being from mobile terminals. Meanwhile, there are 13,000 travel diaries contributed by these users monthly.

This new financing round was from a group of investors, including General Atlantic, Temasek, Chinese private equity firm Ocean Link, Chinese venture capital fund Yuantai Changqing fund, and Houpu Investment Management, with Existing investors Capital Today, Hillhouse Capital and Qiming Ventures Partners participating. The capital will be used to further invest in data development, supply chain system, and to expand its service resource from local tourism resources, such as hotels, and so on. The company aims to build a global tourism consumption guide.

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Cloud service provider Kingsoft Cloud receives USD 300M for Series D

Kingsoft Cloud

Founded in: 2012

Financing status: RMB 2 billion (USD 300 million) for Series D financing in 2017

Cloud service provider, Kingsoft Cloud, received USD 300 million for Series D on December 12 to introduce AI technology to more industries.

Kingsoft Cloud is a cloud service provider that mainly provides online cloud storage and cloud distribution services for businesses and developers. Its commercial version is based on the fast disk Jinshan cloud services architecture, business-oriented cloud storage products, storage and so on. Its cloud services and products support large-scale concurrent users’ access, to ensure the security of user data.

Founded in 2012 in Beijing, it relies on the Jinshan 20 years of deep technical accumulation.  By now its fast disk Personal Edition has over 40 million users, and is widely adopted by smartphones, TVs, and so on.

This new financing round was from a group of investors, including Kingsoft, and others. The company will firstly join the price war in the cloud service industry raised by Alicloud in order to conquer the market via lower prices. Additionally, Kingsoft Cloud will integrate AI technology into its cloud services for a better customer experience.

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Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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