SoftBank-backed travel tech startup Yanolja acquires Korean e-commerce company Interpark 

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South Korean travel tech startup yanolja has acquired a 70% stake in a listed South Korean e-commerce pioneer, interpark, for approximately $250 million.

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The company plans to use the acquisition to make further inroads into the overseas tourism industry. Interpark offers online travel booking services and international shipping to over 230 countries and targets Korean, English, Chinese and Japanese speaking customers.

Overseas travel tech platforms dominate the international tourism industry, but Yanolja is hoping to compete by creating a “super app” in which InterPark incorporates Yanolja’s current services as well as a number of lifestyle services, including booking hotels. Are included. , car and related travel experiences. Interpark’s services cover Shopping, restaurant reservations, travel tickets, attractions and live performances, a spokesperson for Yanolja told Nerdshala.

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This acquisition follows the rise of Yanolja. $1.7 billion From SoftBank Vision Fund 2 in July. The latest investment for Yanolja was SoftBank’s second-largest funding in a South Korean company after Coupang, which received nearly $3 billion from a Japanese VC before eventually going public.

Yanolja is estimated to be worth over $8.4 billion (10 trillion KRW). According to reports, it plans to pursue dual listings in the US and South Korea around 2023. Despite a heavy cloud over the travel and tourism industries over the past 20 months, the company has been on a major growth tear. In 2019, $180 million . After its closure, Yanolja was valued at over $1 billion. Series D Round. Yanolja declined to comment on its valuation and IPO plans.

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South Korea’s Largest Travel Tech Startup Was Founded by Former Motel Manager Sujin Lee, CEO and founder of Yanolja, in 2005.

Yanolja said it is using its most recent investment to invest in its global travel platform (GTP) and strengthen its automated solutions through artificial intelligence, aimed at providing more personalized solutions for users. To build technology.

In July, Yanolja launched a new feature, Yanolja Cloud, a B2B operations solution, to bolster its digital transformation as demand for the contactless service grows from the pandemic. Yanolja Cloud automates online and offline operations and helps hotel operators generate more revenue by providing personalized service to guests at a lower cost. The company claims that it provides Yanolza Cloud to nearly 30,000 customers in 60 different languages ​​in 170 countries, including Southeast Asia and Africa.

Yanolja announced today that Yanolja Cloud reported 170% growth in revenue in the overseas market, including the US, Indonesia, the Philippines, India and Africa, as of September year over year.

Yanolza is making other massive acquisitions: In 2019, it picked up South Korea’s DailyHotel and Indian lodging management platform eZee Technosys; In 2018, it acquired Southeast Asia-based hotel chain Zen Rooms.

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