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Airbnb negotiates acquisition of its Chinese rival Xiaozhu

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Airbnb negotiates acquisition of its Chinese rival Xiaozhu

The world’s largest home sharing site Airbnb, based in the USA, carries out negotiations to purchase its Chinese rival Xiaozhu, Bloomberg reports, citing its source.

In case of the acquisition, Airbnb might become a significant player inside China, having expanded the company’s presence in the most densely populated country in the world.

Meanwhile, Airbnb and Xiaozhu declined to comment the information on the deal.

According to IResearch’s estimates, Chinese online market for housing short-term lease might grow 1,5 times in 2017, up to 1,5 billion dollars.

Xiaozhu, founded in 2012, possesses 10 million of active users and over 100,000 sites for rent in 301 towns of China.

The leader of the market is Tujia company, which is estimated at more than 1 billion dollars.

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