Unsolicited Acquisition Interest
Travala.com, the innovative travel platform that allows users to book holidays using cryptocurrency, is reportedly in discussions with potential buyers after receiving an unsolicited takeover bid late last year. This development has attracted attention from various parties interested in the company’s unique position in the travel industry.
Inquiries and Responses from Major Players
According to sources familiar with the situation, Travala has reached out to major online travel agencies, including Booking.com, one of the largest players in the market. Although Booking.com initially explored the possibility of acquiring Travala, they ultimately decided against pursuing a deal. The sources, who wished to remain anonymous due to the sensitive nature of the discussions, indicated that talks are ongoing with other interested buyers, but there is no guarantee of a finalized agreement. Travala may opt to maintain its independence.
Insights from Booking.com
A spokesperson for Booking.com confirmed that Travala had initiated contact, leading to a few calls where details were exchanged. However, after careful consideration, Booking.com chose not to move forward with any acquisition talks.
Valuation and Financial Performance
The valuation of Travala could exceed $100 million, according to insider information. The company reported revenues exceeding $100 million last year, and projections suggest substantial growth in 2025. This financial performance highlights Travala’s potential in the rapidly evolving travel sector, particularly with the increasing adoption of cryptocurrency.
Binance’s Role in the Process
Binance, the prominent cryptocurrency exchange, is a significant minority stakeholder in Travala and holds a seat on its board. Their involvement will be crucial in any potential acquisition discussions, although Binance has declined to comment on the matter.
A Unique Travel Experience with Cryptocurrency
Founded in 2017 and based in Singapore, Travala is a pioneering crypto-native travel platform. It features its own loyalty rewards token, AVA, which currently has a market capitalization of $47 million. Despite experiencing a 40% decline this year, the AVA token remains integral to Travala’s offerings.
Travelers can enjoy the flexibility of paying for their vacations with over 100 different cryptocurrencies, in addition to traditional payment methods. Through the AVA Smart Program, customers who book their trips using crypto can earn up to 10% back in Bitcoin (BTC) or AVA, along with discounts and token bonuses.
Ownership and Market Presence
Booking.com is owned by Booking Holdings (BKNG), a company listed on the Nasdaq exchange. This connection further emphasizes the significance of potential partnerships and acquisitions in the travel industry as it adapts to the growing influence of cryptocurrencies.
