Expedia Is Pouring $350 Million Into This Asian Company
There it goes again. Expedia (NASDAQ: EXPE), announcing the latest in a very long string of strategic purchases, said it made a $350 million one in Traveloka Holding, an up-and-coming online travel agency (OTA) based in Indonesia. Like its top competitor, Priceline Group (NASDAQ: PCLN), Expedia has grown to immense size, largely through its investments.
This one is a bit atypical, as it's directed toward a company based in Asia -- which, in my opinion, clearly demonstrates that it's walking the walk in its stated ambition to grow its presence abroad.
Traveloka's website portal has the look, feel, and basic functionality of Expedia's. It emphasizes destinations and hotels in its native country, as well as the broader Southeast Asian region.
Source: Fool.com
