- Crypto-friendly travel platform Travala.com is exploring potential acquisition offers following an unsolicited approach in late 2023.
- Booking.com evaluated the opportunity but decided not to proceed with acquisition talks.
- The company’s valuation could exceed $100 million, with revenue surpassing that mark in 2023.
- Binance, as a major minority stakeholder, holds significant influence over any potential deal.
- The platform’s native token AVA has experienced a 40% decline in value this year.
Travel Platform Seeks Strategic Buyers
Singapore-based Travala.com, a cryptocurrency-compatible travel booking platform, has entered discussions with potential buyers after receiving an unexpected acquisition proposal in late 2023, according to sources familiar with the situation.
Market Position and Performance
The company reported revenue exceeding $100 million in 2023, with projections indicating substantial growth in 2025. The platform enables users to book travel accommodations using over 100 cryptocurrencies alongside traditional payment methods.
The AVA token, Travala’s native cryptocurrency used for loyalty rewards, currently maintains a market capitalization of $47 million. Through the AVA Smart Program, customers who pay with cryptocurrency can receive up to 10% returns in Bitcoin or AVA tokens.
Acquisition Landscape
While Booking Holdings (NASDAQ: BKNG) subsidiary Booking.com initiated preliminary discussions, they ultimately chose not to pursue the acquisition. A company spokesperson confirmed the exploratory talks but indicated they would not move forward.
Binance, which holds a substantial minority stake and board representation in Travala, will play a decisive role in any potential sale. The cryptocurrency exchange’s position as a key stakeholder makes its approval necessary for any acquisition to proceed.
The ongoing discussions with other potential buyers remain active, though sources indicate Travala might maintain its independence if suitable terms are not reached. Current market conditions and the company’s strategic position in both travel and cryptocurrency sectors will likely influence the final outcome.
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