BEIJING, May 7, 2015 /PRNewswire/ -- Jetbay, the largest platform designed specifically for foreign inbound travelers to research and book private tours to China, today announced it has closed a $1.6 million Seed round led by ChinaRock Capital Management, a San Francisco-based investment management firm that focuses on investing in promising China-based companies. The round is a combination of venture capital investments and a Chinese government grant.
The platform comes from the creators of WOWO, China's leading local services e-commerce platform that is often referred to as the "Groupon of China," which announced its initial public offering on the NASDAQ stock exchange earlier this month. The co-founder of WOWO, Michael Pan, identified that the foreign inbound travel industry was underserviced and that, through the network he established with WOWO, he could fill that void – like he did with WOWO when Groupon failed in China.
"As the industry currently stands, inbound travel to China is a challenge for English-speaking travelers," says Pan. "Tours often lead to unwanted shopping trips and undesirable food options with limited concern for the needs of a family when traveling in a large group. Jetbay aims to close that gap by providing tailored, hassle-free experiences by picking up where the larger travel sites leave off."
With over 5,000 years of history and incredible diversity in culture and scenery, China offers an enriching experience unlike that of any other. Both an economic and cultural powerhouse, China currently boasts over 130 million visitors a year. Jetbay's current funding will be used to garner partnerships within China's existing travel industry, and segue the platform into its next round of funding for use in overseas expansion.
"With China's tourism revenue increasing by nearly 15% from 2013 to 2014, now is the perfect time to disrupt the market with Jetbay," says Ding Chun, Managing Partner at ChinaRock Capital Management. "The platform will provide the unique experience that seasoned travelers value and the ease that inexperienced ones expect."
Jetbay's mission is to provide high quality, integrated private tours so travelers can fully soak in all the sights, sounds, and tastes of China, without the stress that traveling can sometimes provide. The platform offers a wide selection of private tour packages across China suited to each individual's taste, including English-speaking guides who provide in-depth introductions to cities well beyond the usual places of interest like Beijing and Shanghai. For a truly customized experience, Jetbay also hand-picks each activity and attraction to balance sightseeing, eating, shopping, culture, and entertainment, integrating the best elements that experienced travelers in China rave about. Tour packages range from one to 14 days, and users select their preferred dates free of the language barrier, unwanted shopping, or tourist traps.
For more information, visit Jetbay.com.
Jetbay is the largest platform designed for foreign inbound travelers to research and book private tours to China. With year round departures and over 50 unique itineraries, Jetbay offer the widest range of Chinese tours on the web. Both an economic and cultural powerhouse, China is the hottest new travel destination for travelers of all ages. Currently boasting over 130 million visitors a year, China's 5,000 years of history and incredible diversity in culture and scenery offer an enriching experience unlike that of any other, and Jetbay delivers it.