Tuniu.com Completes D Round Fund-Raising of $60 Million
BEIJING, Sept. 6, 2013 /PRNewswire/ -- Tuniu.com announced the completion of D round fund-raising on September 4th, 2013. The $60 million was jointly invested by Temasek, DCM and others.
Tuniu.com, which services mass tourism market, was established in October 2006. Focusing on the online leisure travel market, Tuniu takes "Make travel easier" as its mission and provides consumers with booking services of tourism products. Tuniu.com won the first place for online packaged tours in 2012 and is seeing strong growth. By now, Tuniu.com has provided booking services for tourism products starting from cities like Beijing, Shanghai, Guangzhou, and Shenzhen. At the end of the first half of 2013, Tuniu provided over 40,000 kinds of tourism products for the consumers to choose from, including packaged tours, self-service tours, self-driving tours, cruise tours, tickets to scenic spots and group tours, and more than 3 million people have been served in total.
Donald Yu, CEO of Tuniu.com said, after the A round financing by Gobi Partners, B round led by DCM, and C round led by Sequoia Capital, Highland Capital Partners and Rakuten Inc., Tuniu.com has caught the eyes of many investors with its achievements and rapid development. In 2013, personnel with senior industrial experiences including Mr. Conor Yang, former CFO of Dangdang.com, and Mr. Zen Tang, former senior executive of Alibaba, have took the offices of CFO and CTO of Tuniu, and they have helped the company establish a mature senior talent system for constructing higher level strategies. CFO Conor Yang said that the new capital obtained from D round will be mainly used for the expansion and optimization of leisure travel products, further enhancing technology platform and recruitment of more industry talents, and the promotion of " Make travel easier" will be further accelerated.
Temasek is an investment corporation established in Singapore in 1974, which has 11 subsidiaries and offices in Asia and Latin America. By March 31st, 2013, Temasek has owned investment portfolios with a total value of 215 billion Singapore dollars, which are concentrated in Singapore and other Asian areas.
The investments of Temasek are focused on four themes: economies in transition, growing the middle class, strengthening comparative advantages, and leading emerging enterprises. Its investment portfolios cover various industries like financial services, telecommunication, media and technology, transportation and industries, life science, consumption and real estate, energy, and resources.