Yanolja Acquires Interpark: SoftBank-Backed Travel Tech Expansion

Yanolja Acquires Majority Stake in Interpark for $250 Million

Yanolja, a leading South Korean travel technology company, has finalized the acquisition of a 70% ownership stake in Interpark, a prominent South Korean e-commerce business. The transaction is valued at approximately $250 million.

Expansion into Global Tourism

This strategic acquisition is intended to bolster Yanolja’s expansion efforts within the international tourism sector. Interpark provides online travel booking services and international shipping capabilities, reaching customers in over 230 countries.

The company caters to a diverse clientele, supporting Korean, English, Chinese, and Japanese languages.

Building a "Super App"

While foreign-based travel tech companies currently dominate the global tourism landscape, Yanolja aims to establish a competitive presence through strategic scaling. The goal is to develop a comprehensive “super app”.

This app will integrate Interpark’s established lifestyle services with Yanolja’s existing offerings, which include hotel and car bookings, and a range of travel-related experiences.

Interpark’s Service Portfolio

Interpark’s service range is extensive, encompassing shopping, restaurant reservations, travel tickets, attractions, and live performance bookings. A Yanolja spokesperson confirmed this information to TechCrunch.

Recent Funding and Valuation

The acquisition follows a substantial $1.7 billion investment received by Yanolja from SoftBank Vision Fund 2 in July. This marked Softbank’s second-largest investment in a South Korean company, following a $3 billion investment in Coupang.

Yanolja’s current valuation is estimated to exceed $8.4 billion (10 trillion KRW). Plans for a dual listing on stock exchanges in both the U.S. and South Korea are reportedly under consideration for around 2023.

Growth Despite Industry Challenges

Despite the significant disruptions experienced by the travel and tourism industries over the past two years, Yanolja has demonstrated substantial growth. In 2019, the company achieved a valuation exceeding $1 billion after securing $180 million in Series D funding.

Yanolja has not publicly commented on its valuation or IPO intentions.

Company Origins

Founded in 2005 by former motel manager SuJin Lee, who currently serves as CEO, Yanolja has risen to become South Korea’s largest travel tech startup.

Investment in Global Travel Platform and AI

Yanolja has been allocating its recent investment towards the development of its Global Travel Platform (GTP). Efforts are also focused on enhancing automated solutions through the implementation of artificial intelligence.

The aim is to create technology that delivers more personalized experiences for users.

Yanolja Cloud Expansion

In July, Yanolja launched Yanolja Cloud, a B2B operational solution designed to facilitate digital transformation and meet the growing demand for contactless services.

Yanolja Cloud streamlines both online and offline operations, enabling hotel operators to increase revenue by providing personalized guest service at a reduced cost. The company reports serving approximately 30,000 clients across 170 countries, including regions in Southeast Asia and Africa, with support for 60 languages.

Revenue Growth of Yanolja Cloud

As of September, Yanolja Cloud experienced a year-on-year revenue increase of 170% in overseas markets, including the U.S., Indonesia, the Philippines, India, and Africa.

Strategic Acquisitions

Yanolja has actively pursued acquisitions to accelerate its growth. Previous acquisitions include Dailyhotel (South Korea) and eZee Technosys (Indian lodging management platform) in 2019, and Zen Rooms (Southeast Asia-based hotel chain) in 2018.

• Yanolja is focused on becoming a leading global travel tech platform.
• The Interpark acquisition expands service offerings and market reach.
• Investment in AI and automation is key to personalized user experiences.