Feb 16, 2023 05:41 AM

BUSINESS

Travel Site Mafengwo Secures New Funding From State Investors

By Sun Yanran and Han Wei

Dubbed China’s answer to TripAdvisor, Mafengwo was founded in 2006 as a travel tips and experience-sharing community platform.

Dubbed China’s answer to TripAdvisor, Mafengwo was founded in 2006 as a travel tips and experience-sharing community platform.

Chinese travel site Mafengwo completed a new round of fundraising from a group of state-affiliated investors as the sector rebounds from three years of pandemic disruption.

Beijing Mafengwo Network Technology Co. Ltd., the operator of the site, said Wednesday it secured the funding from three investment funds backed by local governments in southwest China’s Guizhou province.

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