Skip to main content

Traveloka get funding $350 million by Expedia

Get updates direct: Subscribe via email
Traveloka get additional funding of US$350 million by Expedia. Traveloka technology provider of online travel services company, get new funding for operations in Indonesia and expand the market in Southeast Asia. Traveloka and Expedia said the cooperation would expand global hotel reservations for Traveloka and strengthen Southeast Asian cultural understanding for Expedia.

Tinuku Traveloka get funding $350 million by Expedia

The strategic move of the two travel platforms is in line with the rapidly growing tourism in Southeast Asia. Research by Google and Temasek in 2016 reports that more than two thirds of the population in this region is under the age of 40 and appreciates travel more as revenue increases.

Traveloka in the past year has raised a total of US$500 million from investors in previous funding rounds including East Ventures, Hillhouse Capital, Sequoia Capital and JD.com. The latest funding will also strengthen Traveloka's position which has a long history of battle with Tiket.com as its strongest competitor.

"This partnership enables Traveloka users to access various international accommodation, and we look forward to working with Expedia to expand our services in Asia and beyond," said Traveloka's founder and CEO Ferry Unardi.

Traveloka claims to have a network of more than 100 domestic and international airlines. The company also provides a variety of accommodation options from hotels to homestays. Besides Indonesia, Traveloka has also opened services in Singapore, Malaysia, Thailand, Vietnam and Philippines.

Southeast Asia continues to receive the attention of major e-commerce companies as an investment and competition destination. Rapid economic growth in the region of 623 million people continues to push the number of middle class society.

Research Google and Temasek last year predicted the value of e-commerce transactions in Southeast Asia will reach US$197 billion in 2025 or six times compared to 2015. The transaction value of the online travel business will reach one-third more than that value.

Comments

Popular posts

Bayer sells plant science unit to BASF for Monsanto acquisition

Online P2P lending sales continue to soar in Indonesia

LG Chem open Europe's largest battery plant in Poland next year

Advan Digital unveiled Advan A8 smartphone

Bitcoin touched $5293 as the latest record