Yododo, a Shanghai-based hostel booking and independent travel community service, has secured $4 million in Series A funding from Gobi Partners.
The new fund will be used to improve user experience by expanding the hostel network, improve service quality, increase marketing efforts, and increase range of product offerings.
Partner at Gobi Partners, Don Jiang, says:
"As independent travel becomes more popular within China, the non-traditional accommodation segment (e.g. hostels, short-term rental houses) will become more widely accepted."
Yododo was founded in 2006, and it is the largest independent travel community in China with six million users.
Apart from hostel booking service, Yododo is also a rich travel information community with users discussing and sharing travel information, itineraries, destination tips, travel pictures, reviews and more.
Gobi Partners' other investment in travel industry include: