FlightManager acquires outbound travel App XiaYiZhan
FlightManager announced that it has acquired outbound travel App XiaYiZhan.
FlightManager announced that it has acquired outbound travel App XiaYiZhan (meaning “Next Stop”). The move came after FlightManager formed Huoli Travel, a joint venture with HNA-affiliated Caissa Touristic, to tap China’s outbound tourism sector.
XiaYiZhan, founded in 2011, raised RMB 10 million in its series A round backed by Gobi Partners in 2012.
FlightManager received RMB 933 million in its C round financing in April, 2016. The round had HNA-Caissa, CAAC Private Equity Fund and Beijing CAAC HeYuan Investment as major investors. (Translated by Jerry)