Chinese outbound specialist and travel community Qyer.com has secured $60 million in funding, with Alibaba's investment arm contributing to the Series D round.
Alibaba led Qyer's $10 million Series B round in 2013.
However, the latest raise has been led by UTour, a leading domestic and international travel agency chain in China. It contributed $25 million to the Series D and now owns 5.5% of Qyer.
As a result, Alibaba's stake in Qyer drops from 24.7% from 28.09%.
Other investors named in the official Chinese-language announcement include SIG China and Trustbridge Partners.
Coverage of the investment in the Chinese press says that Qyer returned a net profit of RMB418,000 ($64,000) on revenues of RMB19 million ($2.9m) in the first nine months of 2015.
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