It may be mentioned that this present day, Traveloka is among the most depressing ‘unicorns’. The primary working market of this journey retail startup is Southeast Asia, which is at the moment a “scorching spot” of the Covid-19 pandemic.
At the moment, they’re nonetheless supporting the Authorities to implement anti-epidemic help packages, promoting rooms for remoted F1s like in Vietnam; Nevertheless, as revealed by Ms Huynh Thi Mai Thy – Director of Traveloka Vietnam, they don’t take any fee from companions on this program.
It may be mentioned that, for greater than 1.5 years in the course of the previous pandemic, all their development plans needed to be postponed, focusing solely on branding. Nevertheless, with a profitable name of 250 million USD final 12 months, Traveloka might be going to carry out for a very long time. Furthermore, this ‘unicorn’ continues to be planning to IPO on the US inventory trade by the SPAC line.
Traveloka Vietnam didn’t verify the layoff of numerous staff, however mentioned that it was only a restructuring course of
In April 2020, Nikkei info: Traveloka has laid off almost 100 staff, equal to 10% of the whole variety of staff of this startup, and in addition has a plan to chop 50% of the essential wage of the remaining staff. once more. After that, a couple of different rumors unfold in Vietnam, confirming Nikkei’s info to be correct, as a result of Traveloka additionally reduce numerous workers and downsized the workplace in Ho Chi Minh Metropolis. Ho Chi Minh Metropolis – solely 2/Three in comparison with earlier than.
Nevertheless, in a dialog with a reporter on August 24, Ms. Huynh Thi Mai Thy – Director of Traveloka Vietnam mentioned that: it’s not actually a discount in human sources, however they’re simply restructuring the corporate.
Ms. Huynh Thi Mai Thy – Director of Traveloka Vietnam
“Through the pandemic, Traveloka was one of many hardest hit companies. Final 12 months, in the course of the early phases of the epidemic, Traveloka’s management thought rather a lot earlier than deciding to restructure the corporate, learn how to profit staff – companions – clients in addition to make sure the operation of the enterprise mannequin. clean enterprise.
Traveloka’s workers may be very younger, hard-working and has a metal spirit. These individuals can try this and the others can try this. Really, Traveloka’s management is managing the enterprise very properly and has a imaginative and prescient“, Mai Thy expressed.
As for customer support, final 12 months, each clients and Traveloka confronted the pandemic for the primary time, so it was inevitable. And now, their buyer care class has improved rather a lot, due to the continual launch of services which are appropriate for unsure instances.
“In instances of issue, we develop many artistic concepts. Over the previous 1.5 years or so, we have improved the app – the product rapidly and constantly to adapt to the market; many new packages have been born corresponding to ‘Free cancellation 24h’, ‘Clear resort’…
Add a button to vary flights – immediately refund tickets, add a handy buyer care channel when chatting immediately by the app as a substitute of simply calling or emailing like earlier than. Now, clients are additionally used to reserving cancellations in addition to altering consumption habits, reserving near the time and ready patiently for refunds in response to the rules of Traveloka and airways.
Or like lately, when the pandemic raged throughout Southeast Asia, we rapidly added a touchdown web page for this system ‘Remoted transport zero VND’ along side Sasco Journey and linked 80 lodges to take part in this system ” Secure isolation’“, Director of Traveloka Vietnam mentioned.
In Indonesia, in April 2021, this “unicorn” launched new eating places on the Traveloka Eats platform, and employed supply individuals.
Traveloka Eats was initially a restaurant suggestion and assessment platform. The platform quietly supplied supply late final 12 months by a partnership with logistics firm Lalamove. Each corporations share an investor, Hillhouse Capital.
Traveloka is nice however pandemic…sorry
Through the dialog, Ms. Mai Thy repeatedly emphasised that: Traveloka is among the reserving platforms with probably the most aggressive and lowest commissions available in the market. Each time a resort involves Traveloka, they’re dedicated to bringing extra bookings and income to companions. The truth is, the gross sales that Traveloka brings to lodges are excellent.
Due to this fact, according to the overall development of the market – tourism demand at all times will increase after every peak of the pandemic, so does buyer demand on Trevaloka. Final 12 months, Traveloka’s income spiked once more in March – April – Might – June and dropped a bit as a result of peak in Danang, then recovered and solely dropped sharply with the height within the Lunar New 12 months. This 12 months, buyer demand additionally elevated once more from March to June.
Accordingly, in 2020 and 2021, the interval from about March to June, the variety of bookings and different companies on Traveloka recovered very properly and was near that in 2019.
Bear in mind final 12 months, after receiving $250 million in funding from a gaggle of traders, together with East Ventures; grandfather Ferry Unardi – Co-founder and CEO Traveloka additionally mentioned: “We’re delighted to announce that: gross sales have recovered amazingly throughout all markets. Enterprise exercise in Vietnam has approached pre-Covid-19 ranges, whereas gross sales in Thailand are additionally about to recuperate by 50%.“.
Nevertheless, regardless of how good Traveloka is and at all times making an attempt to recuperate as rapidly as attainable, the reality can’t be averted: they’ve solely had about 7 to eight months of income over the previous 1.5 years.
So, though Ms. Mai Thy confirmed that Traveloka continues to be investing and creating enterprise as traditional; however they’ll actually need to put apart the expansion plans set out earlier than the pandemic, reduce prices – however nonetheless have to take a position rather a lot in promoting to make the model.
Nevertheless, with the plentiful sources they’ve from traders, Traveloka should be capable to maintain out for a very long time. This 9-year-old “unicorn” has efficiently raised $1.2 billion in investments from four predominant funds by totally different funding rounds.
Alternatively, with its business, the longer the pandemic lasts, the extra drawback Traveloka may have. With the most recent spherical of funding we talked about above, Traveloka had a valuation of $2.75 billion – 17% lower than its earlier spherical of funding. So, it isn’t stunning that this “unicorn” is making an attempt to IPO as rapidly as attainable.
Traveloka is alleged to be in talks to boost $400 million with the objective of itemizing within the US by merging with a particular objective acquisition firm (SPAC) led by Hong Kong billionaire Richard Li and investor Peter. Thiel backs.
The fundraising is a part of a deliberate merger with Bridgetown Holdings, which will probably be accomplished by PIPE (Personal Funding in Public Fairness), Bloomberg Information reported on August 3. .
By Enterprise and Advertising