Expedia Inc. made a $350 million minority investment in Traveloka Holding Ltd., an Indonesian online travel agency.
Expedia said the companies also plan to deepen their relationship through cooperation on hotel inventory.
Traveloka, which operates in six countries in Southeast Asia, has raised a total of about $500 million over its last two funding rounds. Other investors include East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital.
Dara Khosrowshahi, president and chief executive officer of Expedia Inc., said:
"We are incredibly excited to continue to expand our presence in Asia, to learn from the talented Traveloka team and to unlock a more diverse offering of travel choices for Traveloka and Expedia travelers around the globe."
Ferry Unardi, co-founder and chief executive officer of Traveloka, said:
"The expanded partnership gives Traveloka travelers access to a unique and diverse set of international accommodations, and we are looking forward to working with Expedia to expand our services in Asia and beyond."
Meanwhile, Expedia Inc. reported second-quarter net income of $56.7 million, a year-over-year increase of 79%.
Revenues grew 18%, to $2.58 billion.
HomeAway, the company’s vacation rental business, was one of the stars of the quarter, delivering $224 million of revenue, an increase of 31% year-over-year.
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In-house tech drives new features and growth plans for Traveloka (Jun17)