Wan Zi Earth completes A round with millions of yuan from Alibaba
P2P tour guide platform Wan Zi Earth raised millions of yuan in its series A round funding with Alibaba as a strategic investor. The round was joined by SuHeHui, N5 Capital and Yinxinggu Capital
ChinaTravelNews learned that Wan Zi Earth completed its A-round funding with millions of yuan in January this year. The round was joined by SuHeHui, N5 Capital and Yinxinggu Capital, with Alibaba as a strategic investor.
Established in March 2012, the Shanghai-based startup raised millions of yuan from N5 Capital in the angel round in 2014. Wan Zi Earth was among the first batch of outbound tourism BBS sites in China, but it has transformed itself into a P2P platform for overseas tour guides with Chinese-language services.
The company’s services cover more than 600 cities in over 50 countries worldwide, with thousands of tour guides, mostly overseas Chinese and Chinese students in the destinations.
Wan Zi Earth has set standards for pricing in each destination and local tour guides can offer travelers personalized service based on the pricing. The company’s main income is commission from the transactions between tour guides and travelers.