Traveloka

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Traveloka
Traveloka Primary Logo.png
Type of site
E-commerce
Available inEnglish
Indonesian
Thai
Malay
Vietnamese
HeadquartersJakarta, Indonesia
Area served
OwnerPT Trinusa Travelindo
Key peopleDerianto Kusuma
Ferry Unardi
Albert Zhang
IndustryOnline ticket and hotel bookings
Employees1200+
URLtraveloka.com
Launched29 February 2012; 9 years ago (2012-02-29)
Current statusActive

Traveloka is an Indonesian unicorn company that provides airline ticketing and hotel booking services online expanding rapidly into Southeast Asia[1] and Australia.[2] It recently expanded to provide lifestyle products and services, such as attraction tickets, activities, car rental, and restaurant vouchers.

History[edit]

Traveloka was established in 2012 by information technology practitioners who returned from the United States to Indonesia, Derianto Kusuma, Ferry Unardi and Albert.[3] They were joined in 2013 by the initiator of election result watch site KawalPemilu.org, Ainun Najib.[4] In 2014, hotel reservations instead of just flight reservations were added.[5] In 2017, train tickets and food features were added.[5] At that time, it said it had raised funds to develop machine learning and AI.[6]

Expedia became a minority investor in 2017, when Traveloka was operating in six countries and advertising heavily in Indonesia, Thailand, and Vietnam.[7] In 2018, the company acquired three online travel agencies: Pegipegi from Indonesia, Mytour from Vietnam, and Travelbook from the Philippines.[8] In 2019, it launched a home protection insurance plan in Indonesia, taking advantage of widespread travel durking the mudik tradition.[9] Movie-booking was also added that year through Major Cineplex.[10] It then introduced visa insurance for Indonesian travelers, to cover accidents, sickness, flight delays, and baggage loss.[11] Later that year, it also began listing villas and apartments to book.[12]

In January 2019, Traveloka opened a Research & Development (R&D) center in Bangalore.[13] Also it began releasing kiosks to buy tourist trips in Singapore.[14]

In the beginning, Traveloka served as a search engine to compare the price of airline tickets from various other sites.[15] In mid-2013, Traveloka then turned into a ticket reservation website, where users could place an order on its official website.[16] By 2019, it had also moved into financial services as well as ticketing and hotel booking, and it had launched a credit card with Bank Rakyat Indonesia.[17] Traveloka launched the "Xperience" brand in July 2019,[17] initially in Thailand. It was active in Thailand, Indonesia, the Philippines, Vietnam, Malaysia, Singapore and Australia.[5]

Within the coronavirus pandemic in 2020, in April 2020, the company laid off a significant portion of its staff as the demand for travel dropped significantly. The cuts affected 100 people in Indonesia. There had also been a "massive amount" of requests for refunds for travel plans. [18] There was also in increase in trip cancelations.[19]

On october 2020, Demand for travel accommodation was gradually recovering, as seen in the bookings for Indonesian hotels that had reached 75 percent of the pre-coronavirus figure, said Traveloka president Hendry Hendrawan. A positive transaction trend was also seen in its other major markets, Thailand and Vietnam, with transaction volume returning to pre-pandemic levels in Vietnam, and Thailand not far behind。 [20]

Investment[edit]

In November 2012, the company Traveloka announced its initial investment by East Ventures.[21] In September 2013, the company announced a series investment by Global Founders Capital.[22] Funds from investments are used to build new services such as hotel bookings and travel packages. In July 2017, Traveloka again get an injection of funds of Rp. 4.6 Trillion [9] from companies such as Expedia Inc., East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital.[23]

By 2018, it was often referred as a unicorn company.[24][25]

In April 2019, Traveloka announced it had raised $420 million dollars in a round led by Singapore's sovereign wealth fund, GIC.[26] At the time, it was the largest online travel startup in Southeast Asia.[17] While aiming to establish profit before going public,[27] the company then was considering a dual listing in Indonesia and the United States, if it went through with an IPO. Henry Hendrawan was Traveloka Group's president.[17] Apparently, the IPO had been delayed due to a slowing economy, as well as difficult IPOs by Uber and WeWork. Among backers at that time were GIC Pte Ltd, JD.com, and Expedia, and it had raised a total of $900m. Talks put the company's valuation at around $4.5 billion.[17]

Acquisitions[edit]

In December 2018, Traveloka announced it had acquired three online travel agencies (OTAs) – Indonesia’s Pegipegi, Vietnam’s Mytour, and the Philippines’ Travelbook – for US$66.8 million.[28]

See also[edit]

References[edit]

  1. ^ Baziad, Masyitha (22 September 2016). "Indonesia's Traveloka Begins South-EAst Asian Voyage". Digital News Asia. Retrieved 7 June 2020.
  2. ^ "Traveloka expands to Australia". TTG Asia. 4 March 2019.
  3. ^ 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.
  4. ^ Hutapea, Febriamy (8 February 2015). "Ainun Najib Bergabung dengan Traveloka". beritasatu.com. Archived from the original on 28 March 2018. Retrieved 28 March 2018.
  5. ^ a b c "Traveloka adds to travel apps". Bangkok Post. 19 June 2019. Retrieved 7 June 2020.
  6. ^ Diela, Tabita (1 August 2017). "Traveloka Raises $500m to Develop AI, Machine Learning". Jakarta Globe. Retrieved 7 June 2020.
  7. ^ "Expedia makes minority investment of $350 million in Traveloka". China Travel News. 28 July 2017. Retrieved 7 June 2020.
  8. ^ Muskita, Putra (16 December 2018). "Traveloka has bought Indonesian rival Pegipegi, two others for US$66.8m". Tech In Asia. Retrieved 7 June 2020.
  9. ^ "Traveloka offers home protection insurance for 'mudik' travelers". The Jakarta Post. 23 May 2019. Retrieved 7 June 2020.
  10. ^ Cordon, Miguel (12 November 2019). "Traveloka launches movie-booking service in Thailand". Tech In Asia. Retrieved 7 June 2020.
  11. ^ "Traveloka now sells Schengen visa insurance". The Jakarta Post. 6 July 2019. Retrieved 7 June 2020.
  12. ^ "Traveloka seeks to capitalize on rising demand for alternative accommodation". The Jakarta Post. 11 November 2019. Retrieved 7 June 2020.
  13. ^ "Happened in Indonesia: Bukalapak launches R&D centre". Yahoo News. 28 January 2019. Retrieved 28 January 2019.
  14. ^ Lim, Shawn (18 December 2019). "Traveloka creates interactive installations for tourists to experience Singapore". The Drum. Retrieved 7 June 2020.
  15. ^ "The story behind Traveloka's pivot from metasearch to OTA". Phocuswire. 15 November 2013.
  16. ^ "Reservasi Kamar Hotel". id.berita.yahoo.com.
  17. ^ a b c d e Davies, Ed (31 October 2019). "RPT-SE Asia's biggest travel app Traveloka eyes dual listing, bets on fintech". Reuters. Retrieved 7 June 2020.
  18. ^ Tani, Shotaro (7 April 2020). "Coronavirus drives Indonesia's Traveloka to lay off staff". Nikkei Asian Review. Retrieved 7 June 2020.
  19. ^ "Significant trip cancelations recorded amid COVID-19 pandemic: Traveloka". The Jakarta Post. 18 March 2020. Retrieved 7 June 2020.
  20. ^ https://www.thejakartapost.com/news/2020/10/21/traveloka-looks-to-profitability-amid-signs-of-recovery-from-coronavirus-crisis.html
  21. ^ "East Ventures backs ex-Silicon Valley engineer's travel startup". e27.co. Retrieved 4 April 2018.
  22. ^ "Travel portal Traveloka is first investment by Samwer brothers in Asia". e27.co. Retrieved 4 April 2018.
  23. ^ antaranews.com. "Traveloka raih investasi 500 juta dolar - ANTARA News". Antara News (in Indonesian). Retrieved 19 February 2018.
  24. ^ "Indonesia to Have More Than 5 Start-Up Unicorns by 2019: Minister". Jakarta Globe. Retrieved 19 February 2018.
  25. ^ Amindoni, Ayomi (15 February 2018). "Ekonomi digital mulai moncer, ini dia daftar unicorn dari Indonesia". BBC News.
  26. ^ "Indonesia's travel unicorn Traveloka said to secure $420m in funding". DealStreetAsia. Retrieved 27 February 2020.
  27. ^ Sugiura, Eri (13 September 2019). "Indonesian unicorn Traveloka learns what not to do from Uber". Nikkei Asian Review. Retrieved 7 June 2020.
  28. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 27 February 2020.