Expedia makes equity investment in Traveloka, a leading SE Asian online travel company and strengthens hotel supply relationship; Traveloka raises approximately $500 million within the last year.
JAKARTA, Indonesia – Expedia, Inc. and Traveloka Holding Limited, a leading Southeast Asian online travel company, announced that Expedia made a $350 million primary minority investment in Traveloka and that the companies are deepening their cooperation on global hotel supply.
Over the course of its last two funding rounds, East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital also contributed funding, bringing the total investment amount to approximately $500 million within the last year.
“Traveloka is the clear online travel leader in Indonesia, and is expanding aggressively throughout Southeast Asia. Our partnership will benefit from each side’s expertise and local knowledge, and accelerate our mutual growth,” said Dara Khosrowshahi, President and Chief Executive Officer, Expedia, Inc. “We are incredibly excited to continue to 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 travelers around the globe.”
“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 travelers the best travel options and highest quality booking experience,” said Ferry Unardi, Co-founder and Chief Executive Officer, Traveloka. “The expanded partnership gives Traveloka travelers 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.”
Expedia will account for this investment on a cost basis.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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