Sina Tech, 4/12/11
Chinese online travel site Tuniu announced today that it had completed a USD 50 mln third round of funding from Sequoia Capital, the Lotte Group, DCM, and Highland Capital Partners.
Since October 2006, Tuniu has offered online travel booking services, expanding into 16 cities, including Beijing, Shanghai, Nanjing, and Shenzhen. According to Tuniu COO Alex Yan, the company received first-round funding in March 2009 from Gobi Partners, and second-round funding led by DCM in early 2010. The new round of funding will go to cover expansion of travel coverage and optimization of the company's product lines.
Editor's Note: For more background on this topic, please see "Tuniu Outlines Funding Direction" MD 4/02/09 issue.