Byecity, a Chinese website providing travel and tourism information, has raised approximately $20m in a series B round of funding provided by Alibaba Capital Partners and CBC capital.
Alibaba Group’s corporate venturing unit, Alibaba Capital Partners, has led a $20m series B private placement round of funding for China-based outbound travel service company Byecity. CBC Capital, a China private equity firm focusing on media and communications, also participated in the deal.
Byecity operates a website that provides information including departure dates, flight timetables, hotel choices and route plans. The capital will go towards building Byecity’s network, IT infrastructure as well as branding and online user experience.
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