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Indonesia's Traveloka raises $350m from Expedia

Startup says deepening partnership to help expansion in Asia and beyond

JAKARTA -- Indonesian travel booking startup Traveloka has raised $350 million from U.S.-based Expedia, collecting $500 million in funding over the last year as it expands regionally.

The two companies said in a statement on Thursday that they are also deepening cooperation on global hotel supply.

Expedia, whose global online travel business includes Hotels.com and Trivago, said the partnership with Traveloka will help it continue expansion in Asia.

"Traveloka is the clear online travel leader in Indonesia, and is expanding aggressively throughout Southeast Asia," said Dara Khosrowshahi, president and chief executive of Expedia. "Our partnership will benefit from each side's expertise and local knowledge, and accelerate our mutual growth."

Traveloka said it now has "access to a unique and diverse set of international accomodations."

"We are looking forward to working with Expedia to expand our services in Asia and beyond," said Ferry Unardi, Traveloka's co-founder and chief executive.

Traveloka offers travelers both hotel booking and transport options -- including flights and train services. Founded in 2012, the Jakarta-based company has since expanded across other parts of Southeast Asia -- including Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Its mobile application has been downloaded more than 20 million times, making it one of the most popular travel booking apps in the region.

Prior to the Expedia investment, Traveloka had received approximately $150 million in two funding rounds from East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital.

Southeast Asia is increasingly becoming an attractive market for international technology giants. Chinese e-commerce company Alibaba Group Holding last month increased its stake in regional online mall Lazada, while Amazon on Thursday launched two-hour delivery service Prime Now in Singapore -- marking its first foray into Southeast Asia.

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