Chinese travel start-up gets VC backing
Published: 04 Jul 2008: Chinese online tourism resort ticket distributor Lvmama.com has reportedly gained venture capital funding from Angel Investment, an investment for business start-ups.
The individual investors include Deng Huajin, founder and chief executive officer for Shtuangou.com, Fan Min, founder and CEO of online travel service provider Ctrip.com, and Asia Business Leader publisher Yang Zhenyu.
According to media reports, Lvmama.com set a goal of becoming a platform to show Chinese scenic areas to international consumers and foreign destinations to Chinese consumers.
The company launched the first version of its website in early June and is preparing for the second version. It is to debut the English version in three-five months and also plans to roll out the German version, Japanese version and Korean version.