Lvmama parent company Joyu Group has received a RMB500 million (approx: US$80.53 million) strategic investment from Jin Jiang International Group. This capital injection will help it establish the largest one-stop travel industry O2O group in China.
This year, Joyu Group has formed strategic partnerships with tourism bodies in popular destinations and Chinese attractions such as Shandong Tourism Administration, Fujian Tourism Administration, Guangdong Meizhou Municipal Tourism Administration, Anhui Jiuhua Mountain, Zhejiang Huangdian World Studios, Sichuan Dujiangyan City, Suzhou Tongli Township and Xinjiang Tianchi Lake. It has promoted an original “online + destination + smart service” model through these partnerships to achieve its goals of “more visits, more spending and more satisfaction” for travelers in destination tourism.
Joyu Group has been listed in China Tourism Academy’s top 20 Chinese tourism groups for the past three years. Its subsidiaries Lvmama, Kchance, Joyu TMS, Joyu Tourism and Campsort Alliance form a comprehensive O2O chain.
Lvmama is a comprehensive OTA specializing in DIY travel and was the first Chinese ecommerce to offer e-ticket booking for attractions. It offers booking for all types of leisure products including day trips, domestic travel, outbound travel and customized corporate travel. Lvmama leads the market in the prepaid attractions passes and day trip segments, according to a report by iResearch and Analysis International.
Prior to this investment by Jin Jiang International, Lvmama has received various rounds of investment from Sequoia Capital, CDH Fund, South River Capital and Guang Ya Capital. (Translation by David)
