Reports say Airbnb is eyeing up China move
Airbnb is being linked with a takeover of China’s Xiaozhu.com and a deal is likely, according to an unnamed source.
The two firms have held multiple meetings and are at an advanced stage, Bloomberg reported.
Home rental platform Xiaozhu is one of China’s major players in the segment and has a customer base of about 10 million users.
It lists 100,000 properties in more than 300 Chinese cities.
Airbnb itself has about 75,000 active listings in China.
Xiaozhu’s main competitor is Tujia which is valued at about $1 billion based on its last round of funding.
Airbnb itself is now valued at $30 billion.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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