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Traveloka reels in major Thai investor amid ongoing IPO rumors
The latest buzz in Traveloka's IPO plans is that the homegrown travel and lifestyle start-up has reportedly secured a multimillion-dollar deal with Thailand's state-owned energy and retail giant.
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Decade of innovation: The Traveloka logo and tag line adorns a wall in a conference hall.
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raveloka is going forward with a new maneuver to stabilize its financial performance as rumors abound about the online booking platform’s plan to conduct an initial public offering (IPO) in the near future.
The homegrown unicorn, valued at US$5 billion, has reportedly just secured major investment of an undisclosed amount from PTT Oil and Retail Business Public Co. Ltd. (OR), headquartered in Bangkok.
The deal comes following recent reports that Traveloka had been looking to raise $200 million to prepare its IPO.
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OR’s Singapore subsidiary, PTTOR International Holdings, reportedly inked the deal on July 26 at an event where Traveloka cofounder and CEO Ferry Unardi was also present.
Traveloka has declined a request to comment on the report.
In a statement released on Aug. 1, however, the Thai state-owned company explained that the investment was a major step for the group’s expansion into the travel sector as it strived to become a one-stop lifestyle solution.
