Mafengwo Lands USD 15 Mln Second-Round Funding

Sina Tech, 4/23/13

Chinese travel SNS Mafengwo announced today that it has received USD 15 mln in second-round funding led by Qiming Venture Partners, and with the participation of Series A investor Capital Today. Mafengwo will use the latest round of funding for business model innovations and mobile internet deployment efforts.

Mafengwo says that its mobile travel-planning app "Lvyou Gonglue" has been installed more than 20 mln times since its 2011 release. More than 50,000 users per day use Mafengwo's web and mobile clients to make travel reservations around the world. Mafengwo expects to have more than 50 mln users of its web platform and mobile services by the end of 2014.

Editor's Note: For more background on this topic, please see "Rumor: Travel SNS Mafengwo Lands USD 15 Mln Series-B Funding" MD 10/11/12 issue.

Keywords: Internet SNS Capital Today Qiming second-round Mafengwo online travel wireless

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