Home-rental start-up Xiaozhu.com has raised US$60 million from four private equity firms, valuing the company at more than US$300 million for the Chinese flat-sharing service, The Wall Street Journal reported, citing a statement from the company. A glut of vacant homes in China has fueled interest among homeowners to sign up with companies that can help them rent out their homes for short-term stays. “The sharing economy has a huge influence on China’s Internet sector, and our investment in Xiaozhu reflects our bullish view on how the sharing economy is bringing about disruption in traditional lodging sector,” said Xiao Li, partner at Joy Capital.
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