Zhoumo Qunar raises US$10 million
Zhoumo Qunar received US$10 million in investment. In the fourth quarter of 2014 it will seek out new transaction models and advance the company’s globalization.
Peng Xiao, the founder of Chinese weekend online travel company Zhoumo Qunar, announced that on the 19th of October the company received US$10 million in investment. In the fourth quarter of 2014, Zhoumo Qunar will seek out new transaction models and advance the company’s globalization.
Zhoumo Qunar officially went online on December 2013. It is a mobile app that focuses on weekend getaways. It is under the Shanghai Xishi Internet Technologies Co Ltd. Currently the Zhoumo Qunar platform displays two main types of information regarding weekend travel. One type focuses on the travel products and services of hot spring resorts or scenic areas near the city. Another type focuses on a broad selection of information on events and topics of interest on display to their urban customers. Zhoumo Qunar is essentially a mashup application that combines information on a wide range of activities around the city.
In their new platform version Zhoumo Qunar has added a “Supplier Testing and Information” function. This function allows suppliers to directly administer the business information and availability and interact with customers. This way the suppliers can benefit from customer feedback and also can tailor their products to better suit the customers’ needs. Information on events and campaign will also be more updated and the related information will be more detailed. Zhoumo Qunar’s main source of revenue will be from a share of ticket sales as well as fees for promotion and advertisement on their platform.
By April 2014, Zhoumo Qunar had over 2 million users. In their Series A financing of July 2013 Zhoumo Qunar received hundreds of millions of RMB in funding from Matrix Partners China.
Recently another online weekend travel company called Weekend Travel (Chinese: Zhoumo Qunar Wan) received a multi-million dollar investment in their Series A founding. Weekend Travel is very similar to Zhoumo Qunar in name and services but the two companies are completely separate entities. (Translation by David)