Home Hotel management Yanolja’s Next Move Begins With Softbank Stake

Yanolja’s Next Move Begins With Softbank Stake

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Yanolja is an online travel company that provides both hotel operating technology and is also a full-fledged hotel operator. It recently received a large investment from Softbank.

SoftBank Group intends to buy a 10% stake in the Korea-based travel company. The world’s largest venture capital fund plans to announce an investment of around $ 800 million in the startup.

As a result, Yanolja will be able to attract more capital if needed and should be able to grow faster in the years to come. Recently, Yanolja was preparing to list shares and hired Mirae Asset Daewoo and Samsung Securities as underwriters.

The company was started in 2005 as a budget hotel referral service, but has grown into an online travel agency. It offers different categories such as tourist tickets, train tickets, spa tickets and restaurant reservations.

In 2019, the company was valued at $ 1 billion. This was based on $ 180 million in funding from Booking Holdings and Singapore’s sovereign wealth fund GIC. These investments gave investors around 35% to 40% ownership of Yanolja.

Thanks to Softbank’s investment, the travel industry startup will be able to increase its global reach and likely go public in the United States in the future.

However, while the startup is profitable and generated $ 10.6 billion in transactions globally in 2020 and could grow further, the pandemic has limited Yanolja’s growth.

In May, the Softbank Vision Fund announced its intention to buy shares of Yanolja for $ 2 billion by purchasing shares of Booking Holdings and GIC. It is not known if this was successful, if Booking Holdings and GIC were sold to Softbank.

Yanolja provides cloud-based hotel management solutions to over 30,000 customers worldwide. As the pandemic becomes more and more serious, the tourism industry is stagnating.

This has caused many hospitality companies to use outdated processes or old technology. Yanolja will be able to do more mergers and acquisitions than ever before and has already acquired a travel data services company called Triple in December.


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