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

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
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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