Short-Term Rental Site Xiaozhu Lands First-Round Funding

Donews, 1/06/13

Shanghai Kuaipao Information Technology, the operator of online short-term housing rental website Xiaozhu.com, revealed today that the company completed a first round of nearly USD eight-digit funding in Q4 2012. Investors participating in Kuaipao's first-round funding will be revealed at a later date.

According to co-founder Chen Chi, rental transactions on Xiaozhu.com are currently growing at a rate of around 300% MoM.

Xiaozhu.com recently launched a revamped version of the company's site, improving rental property source information for users.

Editor's Note: For more background on this topic, please see "Online Short-Term House Rental Site Xiaozhu Launches," MD 8/02/12 issue, and "Xiaozhu Joins 58.com's Open Platform," MD 8/20/12 issue.

Keywords: online real estate Internet funding Series A Chen Chi Xiaozhu Kuaipao transaction volume short-term rental

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