Baixing backs two wedding reception platforms
13 Aug 2017
Baixing (百姓网), China’s second-largest classifieds horizontal after 58.com, announced two strategic investments in the hospitality sector. Firstly, Baixing provided series A funding for the wedding reception venue booking site Tuanyanwang.com (团宴网) worth 130 million RMB ($19.5 million U.S.) and got a stake of 11.29 percent in Tuanyanwang in return. The funding round valued the site in the billions of RMB.