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China’s Airbnb-like Tujia raises $300 million to expand overseas

August 3, 2015 publisher 300-million, citywide-jobs, investors, matter, not-authorized, recent-months, said-on-monday, source-did, stake, startup, the-matter, the-stake, tujia, tujia-at-more

(Corrects paragraph 4 to clarify The Ascott is investing $50 mln with other investors) HONG KONG (Reuters) – Tujia, a Chinese vacation rental company similar to home rental firm Airbnb Inc, said on Monday it had raised $300 million from a group of investors to expand its business overseas, increase marketing and offer new products. The deal values Tujia at more than $1 billion, the Chinese company added without disclosing the size of the stake the investors bought. Other investors included existing Tujia shareholders and The Ascott Ltd, a serviced residence business owned by Singapore’s CapitaLand Ltd, that is leading a consortium to invest $50 million in Tujia.