Airbnb's Chinese rival Tujia raises US$300m for global jaunt

Beijing

AIRBNB'S biggest rival in China, Tujia.com, has raised US$300 million to fund a rapid expansion and ride a surge in Chinese families taking holidays around the world.

Online travel giant Ctrip.com International and All-Stars Investment led a round that valued the company at more than US$1.5 billion, it said in a statement. That is up sharply from a valuation of over US$1 billion when it last tapped financing in 2015.