Jienem, an online reservation service for guest houses, hostels and homestay in South Korea, has acquired travel review app Volo from SKTechX.

The transactions details were not disclosed.

“Jienem has been innovating the accommodation suppliers’ ecosystem (including reservation systems, e-commerce, operation consulting, facility development), while Volo has been amassing substantial user-generated content and user engagement. Together, the team will build a new B2B2C travel platform that leverages its existing market leadership in servicing the travel suppliers and engages travel end customers with rich content,” a Jienem spokesperson told e27.

Jienem will also focus on further developing UI/UX of Volo first and plan to upgrade the app to a travel e-commerce platform with their existing guesthouse inventories, as per a press statement from Jienem. Furthermore, it will adopt blockchain technology to build a new travel ecosystem which targets the global market, including Southeast Asia and Korea.

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A post on the Volo website reads:

“Dear Customers,

Please note that as of October 5, 2018, the Volo service will be transferred from SK Planet Co., Ltd. (“SK Planet”) to Jienem Co., Ltd. (“Jienem”).

As a result, the use contract entered into between you and SK Planet with respect to Volo will be transferred to, and assumed by, Jienem and your personal information will be transferred to, and assumed by, Jienem.” 

Volo allows users to create their travel plan, stories and reviews on the app, and share their unique experience with others. The mobile app gained popularity among travellers through the travel entertainment show on TV.

“Volo has 500,000 monthly active users from all around the world and these users share their own unique experience and reviews on the app,” Jun Ho Lee, CEO of Jienem, said. “Jienem has grown tremendously and we have spent more than four years building various products and services for the travel industry. Our strong travel background and connections, together with the blockchain technology, can help bring a new paradigm shift in the travel ecosystem.”

Jienem is backed by Yanolja, the largest local travel online agency in Korea.