Chinese Travel Platform Powered By User-Generated Reviews
The startup Mafengwo is born from an online community Millennial travelers
Chinese startup Mafengwo has become one of China’s largest tourism communities. The online platform covers over 600,000 travel destinations around the globe with user-generated reviews.
The idea for Mafengwo came from a travel community for Chinese millennials who were able to view each other’s reviews of destinations they had visited. The social travel service recently announced that it had raised $133 million from investors including General Atlantic, Ocean Link, Remasek, Yuantai Investment and Hopu. The money raised will go towards making improvements to the global travel experience, deepening the application’s analytic capabilities and improving the travel guides and services for visitors.
What differentiates Mafengwo is its community of users who provide candid feedback, recommendations and ideas on the AI-enabled platform. Since the reviews on destinations come from peers rather than brand, users are more prone to believe what they read and want to try experiences that have been enjoyed by others with similar lifestyles as them.
Since the boom in China’s economy over the past decade, there has been a shift in how people from China travel. Organized tours are not as popular as they once were, as people now favor individual trips with in-depth experiences that make the journey unique. Mafengwo isn’t the only platform available to consumers, however. Its top rival Qiongyou, along with a myriad of other custom travel platforms, are trying to take a piece of this new and increasing market for experiential, individualized travel.
Before you start filling up your calendars with conferences to spark your business innovation and personal growth this year, add CXI 2018 conference to your wish list! For its 12th year running, PSFK is hosting an intimate conference where emerging pioneers and established experts will take the stage to discuss all things innovation around the new consumer experience.
Tim Rodgers is the Co-Founder and CPO of SHOPTHAT, a company focused on making shopping for beauty products much easier by allowing consumers to easily discover, curate and purchase products via the Web and Facebook Messenger. Tim is also the Founder of rehab, an award winning technology company focussed on creating brand services through messaging, voice and AR.
At PSFK 2017, Peloton Co-Founder and COO Tom Cortese discussed how the company aims to utilize the power of Web 2.0 to marry the comfort of home fitness to the high-energy engagement of celebrity-run classes.