FlightManager announced that it has acquired outbound travel App XiaYiZhan (meaning “Next Stop”). The move came after FlightManager formed Huoli Travel, a joint venture with HNA-affiliated Caissa Touristic, to tap China’s outbound tourism sector.
XiaYiZhan, founded in 2011, raised RMB 10 million in its series A round backed by Gobi Partners in 2012.
FlightManager received RMB 933 million in its C round financing in April, 2016. The round had HNA-Caissa, CAAC Private Equity Fund and Beijing CAAC HeYuan Investment as major investors. (Translated by Jerry)
