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SHORT-TERM rental firm Xiaozhu has raised US$120 million in a funding round led by Jack Ma’s Yunfeng Capital Sterling Shepard Giants Jersey , boosting the firm’s financial muscle as it looks to compete with local rival Tujia and U.S. giant Airbnb.

China’s largest house-sharing platform said in a statement yesterday that the fundraising meant it was now a “unicorn startup,” implying a valuation of over US$1 billion. Airbnb was valued at US$30 billion in a fundraising round last year.

China’s fast-growing middle class is driving a boom in domestic tourism, with younger millennials increasingly looking for alternative options to the traditional tour group vacations of their parents’ generation.

Xiaozhu, however, said the Chinese market was not easy to crack, especially for international firms.

“Only local companies with a sense of mission and commitment to the domestic market can stand a chance in gaining leadership in the Chinese market,” Chen Chi Eli Apple Giants Jersey , Xiaozhu’s chief executive and co-founder, said in a statement.

Airbnb, which said earlier this year it was looking to expand its presence in the market, denied in April a Chinese media report saying it was in talks with Xiaozhu to work together in markets such as Japan and South Korea.

Xiaozhu has listings in over 400 locations globally and raised US$65 million last November. Existing investors include Joy Capital, Morningside Ventures and Capital Today.

Yunfeng said Xiaozhu had learnt from Airbnb and that the investment round would help accelerate its growth.

“Going off Airbnb’s business model, Xiaozhu has developed a proven successful model for house sharing to develop in China. Yunfeng Capital is looking forward to witnessing and helping Xiaozhu to grow rapidly,” Yunfeng managing director Li Na said.(SD-Agencies)

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LOS ANGELES Wayne Gallman Giants Jersey , Aug. 8 (Xinhua) -- Marcus Hutchins, a young British computer researcher who helped shut down the WannaCry ransomware attack in May, still remained in custody in Nevada, as his supporters try to raise funds to bail him out.

The hacker community, cybersecurity researchers, and other supporters so far have raised more than 12,000 U.S. dollars for Hutchins Davis Webb Giants Jersey , who was arrested in Las Vegas, Nevada.

The judge at Las Vegas court ruled on Friday that Hutchins could be released on a 30,000 U.S. dollar bail, saying the defendant wasn't a danger to the community nor a flight risk, though the judge ordered him to remain in the United States with GPS monitoring.

However, the 23-year-old British cybersecurity researcher was unable to pay the 30,000 U.S. dollar bail and was still being held Monday at a lockup in Nevada Dalvin Tomlinson Giants Jersey , a day before he's due to face charges in federal court in Milwaukee, Wisconsin, according to Business Insider.

Hutchins remains at the Southern Nevada Detention Center, about 100 km outside Las Vegas, local media cited Kayla Gieni, a spokeswoman of the facility, as saying.

""Unfortunately their desk closed at 4 p.m. on Friday so it wasn't possible in the short 30 minute window Evan Engram Giants Jersey ,"" Andrew Mabbitt, Hutchins' friend and founder of a cyber security company Fidus Security, tweeted on Monday.

Mabbitt and security researcher and hacker Tarah Wheeler have set up a funding page to pay for his defence, and Wheeler tweeted that donors had contributed more than 12,000 U.S. dollars.

The computer expert is scheduled to appear Tuesday morning in federal court in Milwaukee on six counts of hacking-related charges from the U.S.Department of Justice, including conspiracy to commit computer fraud in 2014 and 2015.

He is accused of creating, distributing and selling malicious software called Kronos Will Hernandez Giants Jersey , was commonly referred to as a ""banking Trojan,"" according to the Eastern District of Wisconsin.

Hutchins was arrested by the FBI on Aug. 2 after attending the Def Con, a hacking conference last week in Las Vegas, according to the website MotherBoard.

If found guilty, Hutchins could face a maximum of roughly 40 years in jail in the United States for writing and spreading a malicious software that targeted bank accounts, according to local media.

Hutchins has pleaded not guilty to charges of creating and distributing Kronos, said Adrian Lobo Saquon Barkley Giants Jersey , Hutchins' defence attorney.

Since the clerk's office closed at 4:00 p.m. local time (1100 GMT), Hutchins could not get bail in time on Friday, Lobo said.

""We intend to fight the case,"" Lobo said on Facebook Live to a local reporter, at the court house. ""He has dedicated his life to researching malware, not to try to harm people. He has tremendous community support, local and abroad and in the computer world.""

The Kronos malware Kyle Lauletta Black Jersey , which is spread through malicious email attachments, can be used to steal banking passwords and other credentials from infected computers.

Hutchins, known as MalwareTech on Twitter, is quite active online, but since Aug. 2, no tweet has been posted on his account.

Hutchins was hailed a ""hero"" in May for discovering a ""kill switch"" for the WannaCry ransomware to delay its global spreading as it infected and forced hospitals, telecom providers and many other businesses worldwide to shut down.

""He spent his career stopping malware B.J. Hill Black Jersey , not writing it,"" tweeted Mabbitt.

The WannaCry ransomware encrypted files of hundreds of thousands of computers and then charged victims Bitcoins worth 300 to 600 dollars as ransom.

On the night of Aug. 2, right after Hutchins' detention, the hackers behind the global WannaCry ransomware attack abruptly cashed out all their ransom payments within 15 minutes, though t Don't ignore the tactic connected. Wholesale Jerseys Wholesale Soccer Jerseys Wholesale Jerseys China Wholesale Jerseys China Cheap NFL Jerseys Cheap Jerseys Free Shipping Cheap NFL Jerseys Wholesale Soccer Hoodie Wholesale Hockey Hats Wholesale NCAA Hats