JAKARTA, 2 August 2017: Expedia Inc has invested USD350 million Traveloka Holding Limited, a leading Southeast Asian online travel company.
The deal was concluded over the weekend with Expedia describing it as a “primary minority investment” in Traveloka to deepen cooperation on global hotel supply.
Over the course of Traveloka’s last two funding rounds, East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital also contributed funding, bringing the total investment amount to approximately USD500 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, Expedia president and chief executive officer, Dara Khosrowshahi.
“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 travellers around the globe.”
Traveloka co-founder and chief executive officer Ferry Unardi said: “Partnering with the world’s leading online travel company will allow us to focus on our continued growth in the online travel space… we are looking forward to working with Expedia to expand our services in Asia and beyond.”