Lvmama Secures VC Funding

Netease Tech, 12/02/10

Shanghai Joyu Culture Communication, operator of scenic location ticket sale website Lvmama, has obtained nine-figure RMB funding from Sequoia Capital and CDH Investments.

This round of funding will be used for marketing, product development, HR, and upgrading the website's backend. CEO Hong Qinghua said Lvmama has focused on the Yangtze River Delta region this year, and next year will focus on the Pearl River Delta, Southwest China markets, and the Bohai Sea region.

Hong added that nearly twenty investors sought out Lvmama this year.

Lvmama surpassed more than 2,600 partner scenic areas in 2010, and expects to have more than 5,000 in 2011. Online sales volume this year is expected to be nearly 20 times that of 2009.

Editor's Note: For more information on this topic, please see "Lvmama Obtains Second Round VC Funding," 9/07/09 issue.

Keywords: online travel Hong Qinghua Internet funding Lvmama VC CDH Investments sales volume Sequoia Capital online ticketing e-commerce

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