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Chinese Airbnb Rival Sets Sights on IPO, CEO Says
Zhang Yushuo
DATE:  Mar 01 2019
/ SOURCE:  yicai
Chinese Airbnb Rival Sets Sights on IPO, CEO Says Chinese Airbnb Rival Sets Sights on IPO, CEO Says

(Yicai Global) March 1 -- Lodging platform Tujia, known as China's discount version of Airbnb, could go public in the near future, according to an interview with its head.

Tujia Online Information Technology is preparing for an initial public offering, the Beijing-based firm's Chief Executive Yang Changle told Chinese financial news outlet 21st Century Business Herald. "Going public is possible and it won't be far away," he said, adding that an overseas listing would be preferred.

The firm promoted Yang to CEO on Feb. 26, replacing Luo Jun, who will remain at Tujia as director and chief executive of its real estate unit Sweetome. 

The platform's trading volume is expected to double this year annually, and losses are expected to narrow to one-third of that of 2018, Yang said without releasing financial data for last year.

Founded in 2011, Tujia features over 1.4 million lodgings on its platforms and completed E-round financing in October 2017 boosting its valuation to over USD1.5 billion.

Editor: William Clegg

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Keywords:   Tujia,Aparts Bed &Breakfastbooking,IPO