Sohu IT, 4/25/14
Shanghai-based Quewo Information Technology, operator of mobile travel journal and experience sharing application 117go, has received USD 15 mln in second-round funding from Softbank China. Quewo CEO Chen Wei has revealed that the funding will be used to consolidate and develop 117go's user base and brand, as well as to build the company's "Taozai Lushang" travel product e-commerce platform.
The Taozai Lushang app was released by Quewo in early April, offering discounted vacation packages including airfare and hotel reservations.
Over the past 18 months, Quewo has completed three rounds of funding totaling USD 20 mln, including series A funding from Redpoint Ventures in 2012 and series A+ funding from Chinese e-commerce conglomerate Alibaba Group. 117go currently has more than 10 mln registered users and a daily active user base exceeding 200,000.
Editor's Note: For more background on this topic, please see "Alibaba Funds Mobile Travel Journal App '177go'" MD 4/17/13 issue and "Travel Journal App Lands USD 7-Digit First-Round Funding" MD 1/31/13 issue.