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
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