Expedia invests $350 million in Traveloka
Established in 2012, with an extensive brand portfolio, online travel company Traveloka provides both hotel booking and transport options, with over 200,000 airline routes worldwide. Providing over 40 payment options for consumers in Indonesia, Malaysia, Singapore, Thailand, Vietnam and the Philippines, its mobile app appeals to an increased consumer base.
Recently, international travel giant Expedia Inc has therefore made a $350 million investment in the company, strengthening its global hotel ties and catering towards an increased tourist demand within Asia. The company has recently reported over $2.5 billion in revenue for its second quarter figures, a near 20% increase from last year. It owns a number of online travel brands under its umbrella, such as HomeAway, Hotwire.com and Hotels.com.
Dara Khosrowshahi, President and Chief Executive Officer, Expedia, Inc said: "Traveloka is the clear online travel leader in Indonesia, and is expanding aggressively throughout Southeast Asia. This partnership will benefit from each side's expertise and local knowledge, and accelerate our mutual growth."
"Partnering with the world's leading online travel company will allow us to focus on our continued growth in the online travel space to meet our goal of providing travellers the best travel options and highest quality booking experience," said Ferry Unardi, Co-founder and Chief Executive Officer at Traveloka. "The expanded partnership gives Traveloka travellers access to a unique and diverse set of international accommodations and we are looking forward to working with Expedia to expand our services in Asia and beyond."
East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital have also contributed funding through a seed round, and enabled investment figures to increase up to $500 million.
Asia has been viewed to have significant growth potential for a number of overseas investors, with a large number situated in the US. Outside of China and India, Indonesia has become one of the most significant e-commerce markets in Asia, according to Techcrunch.
Amazon’s recent venture into south-east Asia through its Singapore expansion, alongside the competition with companies such as Grab, Uber and Go-Jek further highlights its booming popularity and an increased focus on providing personalised customer services through the use of sophisticated data analytics to provide exceptional travel services.