As it builds up for an IPO, Tujia, one of China’s largest home-sharing platforms, says it has passed 1.4 million global listings and expects to break even in the second half of 2019, 36Kr reports.
Backed by Ctrip, China’s largest online travel operator, Tujia controls nearly half of China’s home-sharing market with Alibaba-backed rival Xiaozhu. Airbnb, which entered the market in 2016, straggles with a 7% market share.
Xiaozhu claimed over 500,000 active listings across 710 cities in January. In October 2018, the startup raised USD 300 million from Jack Ma’s Yunfeng Capital at an unknown valuation and was worth north of USD 1 billion after a USD 120 million investment round in November 2017.
Last May, Tujia said it was growing three times as fast as Airbnb, claiming one million listings: 700,000 in 300 Chinese cities, and the rest across 1,000 overseas locations, including Japan and Thailand.
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