Indonesian traveltech giant Traveloka has acquired its rival PegiPegi and other Southeast Asian online travel agencies (OTAs), according to a report by DailySocial.
It stated that in January, Japanese tech company Recruit Holdings has sold its traveltech subsidiaries PegiPegi (Indonesia), Mytour (Vietnam), and TravelBook (the Philippines) for US$66.8 million to a Singapore-based shell company named Jet Tech Innovation Ventures Pte Ltd.
The report further explained the relations between Jet Tech and Traveloka:
1. Jet Tech listed director Hendrik Susanto also holds the position of Chief Strategy and Investment Officer Traveloka.
2. Jet Tech and Traveloka have the same office address in Singapore.
3. LinkedIn searches revealed PegiPegi CEO Kevin Sandjaja and Head of Marketing Serlina Wijaya as former employees of Traveloka.
Also Read: Unicorn startup Traveloka’s CTO has stepped down
e27 has reached out to Traveloka to confirm and find out more details of the acquisition.
In October, Bloomberg reported that the company is in talks with existing and new investors to raise about US$400 million in funding.
Previously, in 2017, it had confirmed a US$350 million in funding by global traveltech giant Expedia, following up a US$500 million funding rounds by East Ventures, Hillhouse Capital Group, JD, and Sequoia Capital.
In Indonesia, both Traveloka and PegiPegi hold the position of the top three most popular OTAs in the country, based on a separate survey by DailySocial.
Image Credit: Anete Lūsiņa on Unsplash
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