Hotel booking app Yanolja gets $44M from Agoda

Industry experts expect South Korean O2O hotel booking service provider, Yanolja, to receive up to 50 billion won (approximately $44.1 million) from Agoda to help push its global expansion. Agoda is an international online hotel and vacation accommodation booking platform based out of Southeast Asia.

Yanolja has prepped up to raise 220 billion won (approximately $193.8 million) through a pre-initial public offering placement recently received an investment commitment from Agoda, according to resesnt investment bank industry sources.

According to reports, Agoda will acquire Yanolja’s pre-IPO shares worth from 30 billion won (approximately $26 million) to 50 billion won (approximately $44.1 million) as part of efforts to expand its presence in Asia through partnership. The two parties are said to be in the final stage of negotiations with an aim to determine the investment amount and alliance programs by the end of this month. 

Agoda, based in Singapore, is one of world’s leading online travel accommodation platforms. As part of world’s No. 1 online travel service Booking Holdings with nearly 1 million affiliated hotels, Agoda specializes in online hotel and flight booking services in Asia, while Booking focuses more on non-Asian markets. 

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