- Yanolja prepares for $400M US IPO, targeting $9B valuation.
- The South Korean travel app expands globally through acquisitions.
- Yanolja ventures into cloud services, posts impressive Q1 2024 profits.
South Korean travel app Yanolja is gearing up for a $400 million US IPO, which could catapult its valuation to a staggering $9 billion.
The SoftBank-backed company has set its sights on a July listing, Goldman Sachs and Morgan Stanley leading the charge.
Cloudy with a chance of profits
Since its inception in 2005, Yanolja has become a force to be reckoned with in the global travel industry.
The company has expanded its reach through several high-profile acquisitions, including Israel-based Go Global Travel and US-based Innsoft last year.
Yanolja is not content with just being a travel booking platform; it’s venturing into cloud services for the hospitality and leisure sectors, taking on giants like Airbnb and Expedia Group.
The move is paying off, Q1 2024 saw a nearly 30% increase in operating profit compared to the previous year, reaching an impressive 194.7 billion won ($142 million).
Flags planted, ready for takeoff
With 50 regional offices spanning the globe, including a recently established Manhattan office, Yanolja is poised for success.
As the company shifts its focus from travel to cloud services, investors eagerly await the upcoming IPO and the future growth of this innovative player in the travel and hospitality industry.
To read the original article: https://www.techinasia.com/yanoljas-400m-ipo-lead-9b-valuation-july-report
