Indonesian e-commerce site Blibli today announced that it has acquired 100 per cent stake at online travel agent Tiket.com for an undisclosed sum as per June 12, 2017.
After the acquisition, both companies will continue to maintain its own brand, though Blibli will support Tiket.com with inventory, sales programme, promotions and social media penetration, as well as human resource.
Tiket.com Co-Founder and Chief Communications Officer Gaery Undarsa explained that the acquisition process has begun since five months ago.
“We see that [the acquisition] is going to open up great opportunities for Tiket.com to grow exponentially … Looking at the potential and similarity in culture and business vision, we are so excited to join the Blibli family,” he said.
The two companies also announced the appointment of George Hendrata as new CEO of Tiket.com.
Rumours about the acquisition has been spreading around Indonesian startup scene for more than a month, as Tiket.com was previously reported to be acquired by GDP Ventures, the venture capital firm which backed Blibli.
The acquisition was funded through Blibli’s internal source for business development.
The company also opened up the possibility to expand into another product line following the acquisition, though it will focus on developing the two e-commerce platforms.
Tiket.com was founded in 2011, and it is known to have never raised funding from any venture capital firm. Its latest funding round was a seed funding from an undisclosed angel investor, reportedly an individual who is “related to the Emtek Group family.”
The platform offers airline tickets, hotel reservation, train tickets, car rental, as well as concert tickets.
By December 2014, it claimed to have surpassed IDR1 trillion (US$75 million) annual sales.
Also founded in 2011, Blibli offers 15 product categories from electronic goods to fashion.
It has recently launched Blibli Travel, a category that offers travel products. The company cited travel as one of the categories that it would like to focus on, as data revealed the continuous growth of online purchase in the category.
Blibli CEO Kusumo Martanto expected 2.5 times organic and non-organic growth in the second semester of 2017.
“Tiket.com has a great track record in business where it was able to grow in such a short time into one of the largest OTA in Indonesia,” he said.