Nearly US$500 Million Investment by Expedia, East Ventures Highlight Confidence in Traveloka
31 July 2017
Traveloka announced today that the company has raised approximately $500 million through investments from global online travel leader Expedia, Inc. (NASDAQ: EXPE), East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital within the last year. The investment by Expedia, Inc. will deepen the existing partnership in hotel supply, allowing Traveloka to provide even greater selection of international accommodations inventory to Southeast Asian travelers.
“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.”
“Traveloka is the clear online travel company 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.”
Expedia, Inc. is a globally recognized international online travel company, and this latest investment in Traveloka affirms the scale of and surging international interest in the Asia Pacific travel sector. In particular, Southeast Asia is expected to reach $83 billion in tourism receipts in the region by the end of 2017 according to ASEAN.
With the latest round of investments, it will continue to focus on delivering the best travel experience by developing Research & Development projects through artificial intelligence and machine learning capabilities, and close focuses on customer behaviors unique to individual countries, leveraging data to provide customers a better online travel experience. The company specializes in localizing offerings, such as localized payment methods, as well as local customer service in their native languages. Building the best end-to-end products and services is key to the success of Traveloka.