Zhubaijia, a China-based holiday home rental platform backed by travel services provider HNA Tourism and conglomerate Legend Holdings, has floated on the Neeq stock exchange in China, according to China Money Network.
Terms of the initial public offering have not been revealed. Zhubaijia recorded revenues of RMB46m ($7m) in 2015.
Founded in 2012, Zhubaijia has created a portal for Chinese holidaymakers to book short-term vacation homes in 60 countries. The average booking cost for a family’s four-day stay at a house in Europe is RMB16,000.
HNA Tourism, a subsidiary of conglomerate HNA Group, provided RMB500m in series C funding for the compny in September 2015, as part of a strategic partnership to launch comprehensive travel offerings.
Zhubaijia secured $31m in an August 2015 series B round led by Citic Goldstone Investment Fund that also featured conglomerate Neway Group Holdings, AB Capital and UC Capital.
Legend Star, the incubator arm of Legend Holdings, had previously supplied an angel investment of undisclosed size. Zhubaijia has not disclosed details about its series A round.
Jimmy Ruan, co-founder of Zhubaijia, told China Daily: “After going public, we want to focus on providing more value-added services to Chinese outbound travellers to make sure they can have a hotel-like experience despite of staying in private apartments.”