Tao.117go.com, branded as Taozailushang in Chinese, an online customized travel package platform with backing from Alibaba Group Holdings, Redpoint Ventures, Softbank Corp and New Horizon Capital, has confirmed that it is currently going through liquidation. Maidou Travel, a start-up providing overseas leisure travel packages backed by Gobi Partners, has folded. Weekend get-away trip provider Where To Go On Weekends has shut down operations. Last-minute travel package start-up Ailvxing is no longer in business, while its rival Lailaihui is cutting staff and fighting for survival. "They didn't have timing on their side," an executive at an unnamed Chinese travel giant was quoted by Chinese media, referring to the increasing dominance of Ctrip and a cooling environment of venture funding. Get the full story at China Money Network