Indonesia online travel agent Traveloka has now raised $US500 million in the past year following the $US350 million investment from global travel giant Expedia announced late last week. East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital invested approximately $US150 million in two earlier rounds in the last 12 months.
“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.
Khosrowshahi said deepening their cooperation on global hotel supply is a key element of the deal.
Ferry Unardi, who founded Traveloka in 2012, said Expedia’s investment will assist with expansion.
“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’s $US350 million has bought a minority stake in Traveloka – which operates in six Southeast Asia markets. It’s understood the investment values the company at more than $US1 billion.