China's top independent travel platform Yododo received USD4 million in Series A funding from Gobi Partners. The travel company would use the new funding for the expansion of its hostel network and product range, according to a report published by EIN News Desk.
Gobi Partners is one of China's top venture capital firms. The company focuses on investments in early-stage, technology, media, telecommunications and IT companies in the country. Gobi presently manages five funds that include a Singapore Dollar fund, two US Dollar funds, and two Renmibi funds. The company also has facilities located in Beijing, Shanghai, Guangzhou, Singapore, and Hong Kong. The venture capital company has helped launch dozens of startup firms including Camera360, Tuniu, and Madhouse, the report stated.
Founded in 2006, Yododo is now known as China's biggest independent travel community. At present, the travel site has more than 6 million active users. The said site is a platform for travelers to discuss and share travel information with other community members. In 2008, Yododo started its hostel booking service, EIN News Desk reported..
According to Yododo's CEO Marriane Miao, the company had seen a steady growth in its platform. She also said that Yododo would use the new round of financing to increase its growth potential. The travel platform would seek to improve the quality of its service and increase its marketing endeavors, the report said.
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