Kelvin reveals that the latest funding will go towards Xiaozhu's branding, product innovation, and service chain building. "In addition, Xiaozhu will also expand its overseas markets in Q4 to bring in even more distinct and quality listings to the users."
The business model behind Xiaozhu is held up as the vanguard of the new digital-sharing economy. Through house sharing, Xiaozhu is committed to establishing a sustainable operating model as well as an organic "ecosystem" for the entire industry.
"We're impressed with the innovative work the team has done for the past four years and appreciate how the team has been devoted to bringing the real habit of sharing to the China market," says Annabelle Long, managing partner and founder of BAI. "We are happy to stand with Xiaozhu and truly revolutionize the traveling and living of the Chinese population."
Headquartered in Beijing, Xiaozhu has operating centers set up in 16 cities in China. Earlier this year, the company launched its sanitation project "Xiaozhu Housekeeper" and "Worry-less Check-In Program". To Kelvin's understanding, "quality experiences" is the core competence of the company. "Starting from 2012, going off Airbnb's model, we have made a lot of our own innovations to help lower the threshold of house sharing for the Chinese people. We've been able to see a lot of unique and unexpected demands on Xiaozhu. For instance, there are people who try to find spaces for their family reunion in tier one cities during the Chinese New Year. There are also people who seek to live inside of a book store or even an old chapel. We believe that the sharing economy is in fact helping people to grasp a greater amount of freedom, the freedom to share, and the freedom to live wherever they want," says Kelvin.
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