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
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
Start-ups
Tech

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

Meng Jing
Meng Jing

Updated: 11:34pm, 1 Nov, 2017

Why you can trust SCMP
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
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
READ FULL ARTICLE