Global online travel agency Expedia and its Southeast Asian counterpart Traveloka have confirmed a report on The Information that Expedia has given US$350 million primary minority investment into the Jakarta-based company.
The two companies aim to deepen their cooperation on global hotel supply.
“Our partnership will benefit from each side’s expertise and local knowledge, and accelerate our mutual growth … We are incredibly excited to continue expand our presence in Asia, to learn from the talented Traveloka team and to unlock a more diverse offering of travel choices for Traveloka and Expedia travellers around the globe,” said Expedia CEO and President Dara Khosrowshahi in a press statement.
Traveloka also stated that within the last year, it has raised approximately US$500 million from two funding rounds. Participating investors was East Ventures, Hillhouse Capital Group, JD, and Sequoia Capital.
The company offers 40 payment options for its customers in Indonesia, Thailand, Vietnam, Malaysia, Singapore, and the Philippines.
Its mobile app is said to have been downloaded more than 20 million times.
The Traveloka investment news follows the recent acquisition of its competitor Tiket.com by e-commerce plaform Blibli.
Exepdia owns brand portfolio that includes Expedia.com, Hotels.com, trivago, HomeAway, Hotwire, CheapTickets, Travelocity, Orbitz, Wotif Group, and CarRentals.com. It also owns B2B services such as Expedia Affiliate Network, concierge service Expedia Local Expert, cruise booking service Expedia CruiseShipCenters, and global rail platform SilverRail Technologies.
According to a report by GeekWire, Expedia has invested in Malaysian budget airline AirAsia in 2011 and boosted that stake to three-quarters ownership in 2015.
Image Credit: softlight69 / 123RF Stock Photo