Crypto-Travel platform Travala said to receive unsolicited acquisition approach: Source
Travala.comThe holiday website that allows users to pay with cryptocurrency, talks to potential buyers after receiving an unsolicited approach to getting in the late last year, according to two-person knowledgeable people.
Binance-supported company has received an inquiry, triggering the outreach of Travala’s advisors to major online travel agencies such as Booking.com, one of the largest online travel companies in the world
“Booking.com kicks the tires” before deciding to pass a potential acquisition, people say, who spoke on the condition not to identify because the issue was private. The conversations, however, are carried out with other potential buyers, but there is no guarantee that a deal will be made and the company can choose to stay independent, people said.
Travala refused to comment. A speaker from Booking.com confirmed that Travala had already contacted, who had some calls where more information was shared and that Booking.com eventually decided not to move on.
The company could cost more than $ 100 million, resources said. It had had more than $ 100 million is the income Last year and that number was expected to increase dramatically by 2025.
The Crypto Exchange Binance has something to say about whether a deal will happen or not. It is a large minority holding Travala and has a seat on its board. Binance refused to comment.
Travala is a Singapore-based crypto-native travel platform established in 2017 with its own loyalty rewards token Ava, with a market cap of $ 47 million. The token lost 40% this year.
Travelers can pay for their holidays with over 100 different cryptocurrencies as well as the use of traditional payment methods. As part of the AVA Smart Program, customers booked their crypto trip can receive up to 10% back to Bitcoin (Btc) or Ava, discounts, or tokens bonuses.
Booking.com is owned by Booking Holdings (BKng), listed in the NASDAQ Exchange.
