Budget ticketing platform Atadi.vn merges with Vietnam’s travel app Vntrip

Photo: Sebastian Hietsch/unsplash

Vietnamese online travel agency Vntrip.vn has announced that it has completed the merger of Atadi.vn, one of the leading providers of cheap airfares in the country, according to an official release.

The move comes shortly after the online travel app raised its third round of funding from Switzerland’s IHAG Holding which saw its valuation go up to $45 million in August.

Financial terms of the deal were not disclosed but Vntrip CEO Le Dac Lam told DEALSTREETASIA in an interaction that the value of the deal is in the seven-digit-dollar range.

“Our goal is acquiring the best local players to create a domestic travel giant that can dominate the Online Travel Agent (OTA) sector,” he said.

Atadi.vn, one of the first low-cost ticket hunting website in Vietnam, is known as “cheap ticket supermarket” that allows users to search, compare and book tickets from multiple airlines on the same interface. The company targets a gross merchandise value of VND500 billion ($21 million) this year.

Vntrip.vn, which launched in late 2014 and was operational in early 2016, is one of the largest website booking systems for hotels in Vietnam. It has a network of more than 8,000 hotels in Vietnam and over 1 million hotels in 200 other countries.

To date, Vntrip.vn has built itself a network of over 11,000 hotels across the country.

Vntrip raised $3 million in a series A funding from a small consortium of overseas investors led by former Alibaba veteran John Wu in 2016. The online travel agency also secured an undisclosed investment from Hendale Capital, a Hong Kong-based late-stage investment firm in 2017.

Prior to Vntrip.vn, several booking and tourism startups from Vietnam have raised venture capital funding in the past year. Vietnam’s Triip in April announced that it raised an undisclosed sum of funding from Japanese strategic investor Gaiax and individual investor Nguyen Duy.

Also Read:

Vietnam’s online travel app Vntrip raises third round from Swiss IHAG Holding

Vietnam: Hong Kong-based Hendale Capital invests in online travel agency Vntrip

Vietnam’s hotel booking app Vntrip grabs $3m from former Alibaba CTO, others 

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.