Mafengwo
Founded Year
2010Stage
Series F | AliveTotal Raised
$488MMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-57 points in the past 30 days
About Mafengwo
Mafengwo provides travel information and booking services for independent travelers. The company focuses on building online communities of travelers who share information, tips, and diary entries. The company was founded in 2010 and is based in Beijing, China.
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Expert Collections containing Mafengwo
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Mafengwo is included in 2 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
1,244 items
Travel Technology (Travel Tech)
2,715 items
The travel tech collection includes companies offering tech-enabled services and products for tourists and travel players (hotels, airlines, airports, cruises, etc.). It excludes financial services and micro-mobility solutions.
Latest Mafengwo News
Feb 18, 2024
By Source: China State Council Information Office 2 An aerial drone photo taken on Feb. 14, 2024 shows tourists watching a folk art parade in Chongchuan District of Nantong City, east China’s Jiangsu Province. [Photo/Xinhua] For the Chinese people, the eternal theme of the Spring Festival, or Chinese New Year, remains family reunion, yet an increasing number of Chinese are choosing to integrate travel into their holiday traditions. The change was seen this year as the Spring Festival holiday spanned eight days — possibly nine with a flexible one-day paid leave — surpassing the usual one-week holiday in previous years. According to data released Saturday by Chinese travel website Mafengwo, Monday and Tuesday saw peak travel activity. “We made a random decision to drive to the historic city of Datong (in northern China) on Monday but were surprised to see a large number of tourists. Local hotel chains are almost always full, and restaurants almost always have a waiting line,” said a tourist surnamed Li. New trends in domestic tourism According to Mafengwo, family travel accounted for 45 percent of all trips during the holiday, reflecting a trend that young people return home for family reunions before embarking on trips with their families, taking advantage of the extended holiday period. Beijing, Xi’an and the Guangdong-Hong Kong-Macao Greater Bay Area were among the most popular tourist destinations, said Mafengwo, adding that visiting museums, grottoes, temples and other historical and cultural places was another highlight of this year’s Spring Festival travel after temple fairs and folk activities. A report by travel portal Tuniu.com showed an emerging trend for cross-regional travel between the northern and southern parts of the country during the holiday. Harbin, capital of northeastern Heilongjiang Province, maintained its growing popularity among people from the South who are eager to explore an ice-and-snow world, while tropical cities such as Sanya, Xishuangbanna, and Beihai remained favored destinations for northlanders seeking winter getaways. Surging outbound tourism Data from multiple online travel platforms showed that on the first day of the eight-day holiday, outbound travel bookings already surpassed the 2019 figure, with Southeast Asian countries, particularly those with visa-free policies for Chinese nationals, emerging as red-hot destinations. From Feb. 10 to 13, bookings for hotels in Bangkok tripled year on year, while reservations for Singaporean hotels reported a stunning growth of 800 percent, according to the travel platform LY.com. Several European destinations have introduced unique strategies to attract Chinese tourists. A Michelin-starred restaurant in downtown London has launched a menu specially designed for the Year of the Loong (Dragon), while a railway for the well-known scenic spot Jungfrau in Switzerland has been decorated with Chinese elements to greet Chinese tourists between Feb. 8 and 20. With a substantial rise in outbound tourism, this holiday is projected to see a daily port clearance of 1.8 million people nationwide, more than triple that of the previous year and nearly reaching the level of 2019, according to the National Immigration Administration. According to a market forecast by Ctrip, a leading travel platform in China, the eight-day holiday would mark the country’s first travel rush of the year, with a notable increase in international travel being one of the highlights. “Destinations in Southeast Asia have continued to gain traction as many in China opted for the region for an escape from the winter season,” said Gao Tao, from Tuniu. “The tourism industry has gone through a rough patch in the past three years due to the pandemic. But it is now poised for a growth spurt, particularly in outbound tourism.” In 2023, China saw its outbound passenger trips exceed 87 million, and this figure is projected to reach 130 million in 2024, according to a paper published by the China Tourism Academy. Upward momentum Experts believe that the revved-up Spring Festival tourism consumption heralds an upward momentum in the tourism sector in 2024. In a recent report, the China Tourism Academy estimated that over 6 billion domestic trips will be made in 2024, and the total number of inbound and outbound travelers is expected to exceed 260 million. “With the recovery of the economy, the resumption of international flights and the relaxation of visa policies, it is expected that the scale of domestic tourism consumption will continue to grow in 2024, and the scale of outbound tourism will be comprehensively advanced,” said Qi Chunguang, vice president of Tuniu.
Mafengwo Frequently Asked Questions (FAQ)
When was Mafengwo founded?
Mafengwo was founded in 2010.
Where is Mafengwo's headquarters?
Mafengwo's headquarters is located at A2, Building B, Building 10, No. 9 Jiuxianqiao North Road, Beijing.
What is Mafengwo's latest funding round?
Mafengwo's latest funding round is Series F.
How much did Mafengwo raise?
Mafengwo raised a total of $488M.
Who are the investors of Mafengwo?
Investors of Mafengwo include Guiyang Venture Capital, Guizhou Innovation Empowerment Big Data Investment Fund, Qiming Venture Partners, Yuantai Investment Partners, General Atlantic and 12 more.
Who are Mafengwo's competitors?
Competitors of Mafengwo include Fxtrip and 1 more.
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