Zhubaijia

Zhubaijia, registered as Shenzhen Backpacker Business Travel Consulting Service Co., Ltd., operated as an online platform specializing in overseas vacation rentals tailored for Chinese travelers. The company was founded in 2012 by a team that included Ken Zhang (Hengda Zhang), Jimmy Ruan (Zhimin Ruan), and Charlene Choi. The leadership team brought significant experience to the venture; CEO Hengda Zhang was a graduate of the University of Michigan Ross School of Business and a former executive at property group 5i5j, while co-founder Zhimin Ruan was the Asia Pacific founder for the German rental platform Wimdu, overseeing property resource development for Zhubaijia.

The platform focused on the specific needs and preferences of Chinese outbound tourists, a key market differentiator from global competitors like Airbnb. It targeted higher-income family travelers looking for distinctive travel packages by offering a curated selection of properties, including apartments and European castles, in over 60 popular overseas destinations. Zhubaijia implemented a stringent screening process for its listings, evaluating landlords on their experience with Chinese guests, response times, and property authenticity to ensure quality control. Unlike the commission-based model of many peers, Zhubaijia's primary revenue stream was planned to come from value-added services, such as partnerships with local restaurant recommendation services and souvenir delivery companies, rather than charging users or hosts directly for bookings.

The company showed significant promise in its early years, attracting considerable investment. It secured angel investment from Legend Star and went on to raise a total of $125 million over four funding rounds. Notable rounds included a $31.3 million Series B in August 2015, which saw participation from Chinese movie star Angelababy's AB Capital, and a substantial $78.3 million Series C led by HNA Group in September 2015. Despite its initial success and strong backing, the company ceased operations and is now considered deadpooled as of March 2021.

Keywords: outbound Chinese tourism, vacation rentals, overseas accommodation, Chinese travelers, short-term rentals, travel platform, HNA Group, peer-to-peer accommodation, Asia travel market, Shenzhen startup, venture capital backed, online travel agency, luxury travel, family travel, travel booking, property rental, deadpooled, formerly VC-backed, CITIC Goldstone