Travel company ByeCity.com announced Wednesday it has closed a Series B round of financing after raising nearly US$20 million from Alibaba Group and China Broadband Capital, according to a company statement. ByeCity.com, a subsidiary of Hua Yuan International Travel Co. Ltd., mainly offers visa services and personalized travel services. The website handled more than 400,000 outbound travelers in 2013, up 471 percent from the previous year. An unnamed source from Alibaba said Alibaba sees ByeCity’s business model as promising, with possible synergies with Alibaba’s other online-to-offline services, the National Business Daily reported Thursday.
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