Travala.com, the vacation web site that permits customers to pay with cryptocurrency, is in talks with potential patrons after receiving an unsolicited takeover method late final yr, based on two individuals with information of the matter.
The Binance-backed firm acquired an inquiry, triggering outreach by Travala’s advisers to main on-line journey businesses resembling Reserving.com, one of many world’s largest on-line journey firms
Reserving.com “kicked the tires” earlier than deciding to move on a possible acquisition, stated the individuals, who spoke on situation of anonymity as a result of the matter is personal. Talks, nonetheless, are in progress with different potential patrons, however there isn’t a certainty a deal will likely be accomplished and the corporate might select to stay impartial, the individuals stated.
Travala declined to remark. A spokesperson from Reserving.com confirmed that Travala had reached out, that there had been a few calls the place extra info was shared and finally Reserving.com determined to not progress.
The corporate might be valued at in extra of $100 million, the sources stated. It had greater than $100 million in income final yr and that quantity is anticipated to develop exponentially in 2025.
Crypto alternate Binance can have say about whether or not a deal occurs or not. It’s a massive minority holder of Travala and has a seat on its board. Binance declined to remark.
Travala is a Singapore-based crypto-native journey platform based in 2017 that has its personal loyalty rewards token AVA, which has a market cap of $47 million. The token has misplaced 40% this yr.
Vacationers pays for his or her holidays in over 100 completely different cryptocurrencies in addition to utilizing conventional cost strategies. As a part of the AVA Good Program, prospects who e-book their journey with crypto can obtain as much as 10% again in bitcoin (BTC) or AVA, reductions, or token bonuses.
Reserving.com is is owned by Reserving Holdings (BKNG), which is listed on the Nasdaq alternate.
