Kelvin Chen, the founder and chief executive of Xiaozhu, says he is not worried about Airbnb’s growth in China – “It will be a positive force, pushing the development of the industry forward.” Photo: Simon Song/SCMP

Xiaozhu, China’s Airbnb, a unicorn after US$120m investment round led by Jack Ma-backed fund

Company expected to use Alibaba’s resources to fend off Airbnb and hotels

Topic |   Start-ups

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Kelvin Chen, the founder and chief executive of Xiaozhu, says he is not worried about Airbnb’s growth in China – “It will be a positive force, pushing the development of the industry forward.” Photo: Simon Song/SCMP
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