Traveloka

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Traveloka
TypePrivate
IndustryTravel, ticketing
FoundedFebruary 2012 in Jakarta, Indonesia[1]
FoundersFerry Unardi, Albert, Derianto Kusama[2]
Headquarters,
Areas served
Indonesia, Singapore, Vietnam, Thailand, Malaysia, Philippines[3][4]
Key people
Ferry Unardi (CEO)
Caesar Indra (President)
Alfan Hendro (COO)[5]
ProductsOnline travel portal, ticket bookings, financial services
OwnersExpedia (minority stake)[6]
Number of employees
2,500 (2019[7])
ParentTraveloka Holding Ltd[8]

Traveloka is an Indonesian technology company focused on travel and ticketing. Operating a services website of the same name and based out of Jakarta, Indonesia,[9] Traveloka is active in six countries,[4] and in 2022 remained the largest online travel app in Southeast Asia.[10] Founded in 2012 as a travel search engine,[1] it now also offers services such as attraction tickets, activities, transportation rentals, and restaurant vouchers.[11] It also provides financial services such as credit[2] and insurance.[12] Classified as a unicorn company[13] and regarded as functionally similar to Expedia,[11] in 2022 it was valued approximately at US$3 billion.[14]

History[edit]

Founding (2012-2013)[edit]

Traveloka was established in February 2012[4][1] by three Indonesian software engineers: Ferry Unardi, Albert, and Derianto Kusuma.[15] Unardi and Albert had met while studying computer science in the United States, while Unardi met Kusuma while both were interning at Microsoft.[16] All three ultimately worked in Silicon Valley.[17] Unardi, frequently encountering travel difficulties when visiting his hometown of Padang, came upon the idea of a website to ease travel logistics in Indonesia.[15] As he had no business experience, he began an MBA program[18] at Harvard Business School. However, in early 2012, the Indonesian tech market was attracting international investors[16] and e-ticketing was becoming more popular,[19] so Unardi dropped out early[20][11] and the three founders[11][20] moved to Jakarta and established Traveloka.[18]

After an early iteration was completed in February 2012, Traveloka launched in September 2012 as a travel metasearch site,[21] serving as both an aggregator and search engine for flights in Indonesia.[18] In November 2012,[21] the company raised an undisclosed amount of seed funding from East Ventures.[19] With Unardi serving as CEO and Kusuma as chief technology officer (CTO),[7] the company founders were joined in 2013 by the creator of KawalPemilu.org, Ainun Najib.[22] They also implemented 24-hour customer service in multiple languages[17] and moved from a metasearch model to a full online travel agency (OTA)[23] and ticket reservation website.[18] Also in September 2013, the company announced a series investment by Global Founders Capital.[1] Redesigning the portal and relaunching[16] in September 2013,[21] Traveloka began allowing users to purchase flights using various payment methods,[18] taking between a 10 to 15% commission on bookings.[16]

Expansion (2014-2018)[edit]

Traveloka introduced hotel bookings[24] in July 2014. It then launched apps for iOS and Android in August 2014,[21] and by the end of the year, had 10 million visitors each month.[16] In May 2015, comScore ranked Traveloka as Indonesia’s number one flight search and booking service.[19] Traveloka first entered Thailand in 2015,[17] and by September, it had partnerships in Southeast Asia with 33 hotels and airlines.[16] The company expanded rapidly in 2016, opening regional offices in Thailand, Singapore, Malaysia, the Philippines and Vietnam.[13] Train tickets and food features were added that year,[24] as well as ticketing for Indonesian tourist attractions.[25] In Traveloka's first public funding round since 2013, in July 2017 Traveloka raised $350 million from Global Founders Capital, GIC, the Qatar Investment Authority,[11] and Expedia, which also became a minority investor.[9] The investment valued Traveloka at over US$1 billion, making Traveloka a unicorn company.[26] Funds were earmarked for developing machine learning and artificial intelligence,[27] investments, and hiring more staff.[25] At that time, Traveloka was already operating in six countries and expanding its reach in Indonesia, Thailand, and Vietnam.[6]

By August 2017, according to Reuters, Traveloka had incorporated "100,000 hotels, apartments and other forms of accommodation" in Southeast Asia into its booking options, and had partnerships with around 100 airlines.[25] It added online check-ins in December 2017, as well as airport transportation services via a taxi company.[21] In December 2018, the company acquired three online travel agencies: Pegipegi from Indonesia, Mytour from Vietnam, and Travelbook from the Philippines, all previously subsidiaries of Recruit Holdings in Japan – for $67 million.[28] In May 2018, Traveloka launched the mobile app feature Traveloka Eats, which offered dining information.[29] 2018 also oversaw the resignation of Kusuma from his role as Traveloka's chief technology officer, citing a "clash of aspirations".[30]

New services (2019)[edit]

By 2019, Traveloka was one of four unicorns in Indonesia,[31] as well as the largest online travel startup in Southeast Asia.[32] Traveloka opened a research & development (R&D) center in Bangalore, India in January 2019.[33] In March 2019, AirAsia permanently withdrew sales of its flights from Traveloka, citing Traveloka's lack of explanation for several AirAsia Indonesia flights that had been unlisted the month prior.[34] By 2019, Traveloka had ventured into financial services for the first time.[24] In 2019, it started a credit card scheme with Bank Rakyat Indonesia, marking the company's move into financial services.[32]

In June 2019, Traveloka introduced a new lifestyle business division,[35] branding the feature Traveloka Xperience.[11][32] Initially available in Thailand,[24] it allowed for searching and booking travel-related activities and lifestyle products.[36] It also launched a home protection insurance plan as well as visa insurance coverage in Indonesia in 2019.[36] Traveloka began listing villas and apartments to book in September 2019.[37] By October 2019, it had launched its PayLater card with Bank Rakyat Indonesia.[32] Traveloka also developed a shariah-compliant health insurance program called Bebas Handal for Muslim customers alongside Hong Kong-based FWD Group. Movie-booking in Thailand was also added in November 2019 through Major Cineplex.[36] Also in 2019, Traveloka partnered with the Indonesian Tourism Ministry on the Wonderful Indonesia tourist marketing campaign,[38] also collaborating with the Singapore Tourism Board to open trip kiosks in Singapore.[39] Traveloka in 2019 had 2,500 staff members and 20 products, with around 50 million downloads of its app. That year, a survey of 1,204 Indonesian "millennials" showed that 79% used Traveloka regularly.[7]

Pandemic and recent (2020-2022)[edit]

During the early months of the coronavirus pandemic in 2020, Traveloka began experiencing surges in refund and rescheduling requests.[40] With flight bookings dropping to essentially zero,[41] in April 2020, Traveloka laid off 100 staff members, then 10% of its workforce,[40] and over the next half year, refunded around 150,000 flight tickets equating to $100 million.[42] In response, the company began adding features such as its "Buy Now, Stay Later" feature[30] to allow for flexible booking.[41] To help restore its cash flow during the pandemic, its Xperience sub-brand was also used to host online activities like cooking classes with professional chefs.[30] Traveloka also began advertising other online experiences and "flash sale livestreams," and began bundling flights with COVID-19 tests.[43]

Through Traveloka Xperience, in June 2020, Traveloka began listing polymerase chain reaction (PCR) and rapid testing in Indonesia,[44] booking around 600,000 people for vaccinations over the next year and a half.[41] Also in June 2020, Traveloka started its Traveloka Clean Partners campaign to align with government health measures.[45] A new funding round was completed in 2020 with the Qatar Investment Authority (QIA) as a lead investor.[46] Demand for travel accommodation was recovering by October 2020, according to Traveloka,[42] and by the end of 2020, Traveloka's travel business had returned to profitability.[12] After reports that Traveloka was considering a SPAC merger in the United States,[47] Traveloka halted discussions over a SPAC IPO with Bridgetown Holdings in September 2021.[48] In January 2022, Traveloka remained the largest online travel start-up in Southeast Asia, and was valued at $3 billion.[49] After Traveloka appointed Michelle Chong[50] and Diana Danielle as brand ambassadors,[51] in April 2022, Accor properties in 13 countries were added to Traveloka's booking platform,[5] and Traveloka also partnered with Bank Jago to disburse loans through Traveloka's PayLater feature in Indonesia.[52]

Website[edit]

Traveloka
Type of site
E-commerce, online travel agency (OTA)[23]
Available inEnglish, Indonesian, Thai, Malay, Vietnamese
OwnerPT Trinusa Travelindo
IndustryOnline ticket and hotel bookings
URLtraveloka.com
Launched29 February 2012; 10 years ago (2012-02-29)
Current statusActive

Traveloka is a services and e-commerce site available in multiple languages. Classifying its products and services in the categories of travel, local services, and financial services,[4] the app has been downloaded over 100 million times[2] and has around 40 million monthly active users. It is claimed that the website lists around 150 airlines covering a total of 200,000 domestic and international flight routes. More than 2,500,000 hotels, villas, and guesthouses in 100 countries are also listed.[11] According to Traveloka, it allows for searching and booking[16] in areas such as transportation and lodging,[11] and also provides lifestyle products and services, for example attraction tickets, activities, car rental, and restaurant vouchers.[2]  Customer services are provided 24-7 in local languages. The platform allowed four methods of communication in 2017: a desktop portal, a mobile portal, iOS and Android applications, and direct calls.[17]

Traveloka Eats serves as an ordering and delivery app, while its e-grocery service Mart, like Traveloka Eats, has free delivery fees and no minimum transaction amount.[53] In relation to financial services, it offers wealth management services, insurance,[12] financing and credit. Other features in the Traveloka platform include the prebooking service Buy Now Stay Later, the live-streaming service LIVEstyle, the blogging platform Kampoeng Traveloka, and the multiplayer game Sodaloka.[2]

See also[edit]

References[edit]

  1. ^ a b c d "Travel portal Traveloka is first investment by Samwer brothers in Asia". e27.co. Retrieved 4 April 2018.
  2. ^ a b c d e "A decade of innovations: Traveloka's journey, from metasearch to lifestyle superapp".
  3. ^ "Indonesia's Traveloka Looks to Raise over $200 Million". 9 June 2022.
  4. ^ a b c d "From Metasearch Engine to Lifestyle Superapp, A Decade of Traveloka's Transformation in Growing Together with its Customers". 2 March 2022.
  5. ^ a b "Accor partners with Traveloka to expand its global distribution footprint". Archived from the original on 29 August 2022.
  6. ^ a b "Expedia makes minority investment of $350 million in Traveloka". China Travel News. 28 July 2017. Retrieved 7 June 2020.
  7. ^ a b c "Top Tech Exec at Traveloka Instrumental in New Wave of Growth Dies". 31 July 2019.
  8. ^ "Traveloka Holding Ltd - Company Profile and News". Bloomberg News.
  9. ^ a b "Expedia invests $350M in Traveloka to create Southeast Asia's newest unicorn".
  10. ^ "Tech in Asia - Connecting Asia's startup ecosystem".
  11. ^ a b c d e f g h "In the top flight: Everything you need to know about Traveloka (Part 1 of 2)". KrASIA. 17 March 2021. Retrieved 25 January 2022.
  12. ^ a b c "Southeast Asia's biggest travel app plans regional fintech expansion before 2021 listing". Reuters. 25 February 2021.
  13. ^ a b Baziad, Masyitha (22 September 2016). "Indonesia's Traveloka Begins South-EAst Asian Voyage". Digital News Asia. Retrieved 7 June 2020.
  14. ^ "The Complete List Of Unicorn Companies". instapage.cbinsights.com. Retrieved 25 January 2022.
  15. ^ a b Karimuddin, Amir (29 October 2012). "Layanan Pencarian Tiket Pesawat Traveloka Masuki Tahap Public Beta". dailysocial.id (in Indonesian). Archived from the original on 28 March 2018. Retrieved 28 March 2018.
  16. ^ a b c d e f g "Jakarta: Ripe for a tech start-up take-off". Financial Times. 21 October 2014.
  17. ^ a b c d "Traveloka ad boost for social media". Bangkok Post.
  18. ^ a b c d e "Tech in Asia - Connecting Asia's startup ecosystem".
  19. ^ a b c "Tech in Asia - Connecting Asia's startup ecosystem".
  20. ^ a b "East Ventures backs ex-Silicon Valley engineer's travel startup". e27.co. Archived from the original on 20 February 2018. Retrieved 4 April 2018.
  21. ^ a b c d e "Tech in Asia - Connecting Asia's startup ecosystem".
  22. ^ Hutapea, Febriamy (8 February 2015). "Ainun Najib Bergabung dengan Traveloka". beritasatu.com. Archived from the original on 28 March 2018. Retrieved 28 March 2018.
  23. ^ a b "Traveloka bolstering Thai market with OTA strategy". Bangkok Post.
  24. ^ a b c d "Traveloka adds to travel apps". Bangkok Post. 19 June 2019. Retrieved 7 June 2020.
  25. ^ a b c "Indonesian travel site Traveloka to expand tourist attraction booking service". Reuters. 2 August 2017.
  26. ^ Amindoni, Ayomi (15 February 2018). "Ekonomi digital mulai moncer, ini dia daftar unicorn dari Indonesia". BBC News.
  27. ^ Diela, Tabita (1 August 2017). "Traveloka Raises $500m to Develop AI, Machine Learning". Jakarta Globe. Retrieved 7 June 2020.
  28. ^ Muskita, Putra (16 December 2018). "Traveloka has bought Indonesian rival Pegipegi, two others for US$66.8m". Tech In Asia. Retrieved 7 June 2020.
  29. ^ "Traveloka launches culinary directory feature".
  30. ^ a b c "In the top flight: Everything you need to know about Traveloka (Part 2 of 2)". KrASIA. 17 March 2021. Retrieved 25 January 2022.
  31. ^ "Indonesia to Have More Than 5 Start-Up Unicorns by 2019: Minister". Jakarta Globe. Retrieved 19 February 2018.
  32. ^ a b c d Davies, Ed (31 October 2019). "RPT-SE Asia's biggest travel app Traveloka eyes dual listing, bets on fintech". Reuters. Retrieved 7 June 2020.
  33. ^ "Happened in Indonesia: Bukalapak launches R&D centre". Yahoo News. 28 January 2019. Retrieved 28 January 2019.
  34. ^ "AirAsia to permanently withdraw sales from Traveloka".
  35. ^ "Indonesia Digest: GOJEK partners DBS Bank; Traveloka rolls out new lifestyle feature".
  36. ^ a b c Cordon, Miguel (12 November 2019). "Traveloka launches movie-booking service in Thailand". Tech In Asia. Retrieved 7 June 2020.
  37. ^ "Traveloka seeks to capitalize on rising demand for alternative accommodation". The Jakarta Post. 11 November 2019. Retrieved 7 June 2020.
  38. ^ "Traveloka expands to Australia". TTG Asia. 4 March 2019.
  39. ^ Lim, Shawn (18 December 2019). "Traveloka creates interactive installations for tourists to experience Singapore". The Drum. Retrieved 7 June 2020.
  40. ^ a b "Significant trip cancellations recorded amid COVID-19 pandemic: Traveloka". The Jakarta Post. 18 March 2020. Retrieved 7 June 2020.
  41. ^ a b c "Tech in Asia - Connecting Asia's startup ecosystem".
  42. ^ a b "Traveloka looks to profitability amid signs of recovery from coronavirus crisis".
  43. ^ "Traveloka tops up with $250M amid the coronavirus crisis".
  44. ^ "Traveloka announces new COVID-19 testing service across 44 Indonesian regions".
  45. ^ "Public's confidence in travel, outdoor activities increasing: Traveloka".
  46. ^ "SE Asia's biggest travel app Traveloka raises $250 million as lockdowns ease". Reuters. 28 July 2020.
  47. ^ Lee, Yoolim; Chew, Elffie (11 February 2021). "Traveloka Picks JPMorgan for U.S. Listing Via SPAC". www.bloomberg.com. Retrieved 25 January 2022.
  48. ^ "Indonesia's Traveloka to suspend merger talks with a SPAC". Nikkei Asia. Retrieved 25 January 2022.
  49. ^ "Traveloka enters ride-hailing as super app race heats up".
  50. ^ "13 Things to Know About Singapore's Favourite Ah Lian, Michelle Chong".
  51. ^ "#TECH: Traveloka launches Balik Kampung campaign". Archived from the original on 26 April 2022.
  52. ^ "Tech in Asia - Connecting Asia's startup ecosystem".
  53. ^ "Tech in Asia - Connecting Asia's startup ecosystem".

External links[edit]