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Discussions are at an early stage and the Binance-backed travel platform may decide to remain independent, people close to the matter said.
By Will Canny, Ian Allison|Edited by Sheldon Reback
Jan 27, 2025, 3:26 p.m. UTC
What to know:
- Online crypto travel platform Travala.com received an unsolicited takeover approach late last year, said people familiar with the situation.
- The company is in talks with potential buyers and may be valued in excess of $100 million, they said.
- There is no certainty that a deal will happen, and Travala may decide to remain independent, the people said.
Travala.com, the holiday website that allows users to pay with cryptocurrency, is in talks with potential buyers after receiving an unsolicited takeover approach late last year, according to two people with knowledge of the matter.
The Binance-backed company received an inquiry, triggering outreach by Travala’s advisers to major online travel agencies such as Booking.com, one of the world’s largest online travel companies
Booking.com “kicked the tires” before deciding to pass on a potential acquisition, said the people, who spoke on condition of anonymity because the matter is private. Talks, however, are in progress with other potential buyers, but there is no certainty a deal will be done and the company may choose to remain independent, the people said.
Travala declined to comment. A spokesperson from Booking.com confirmed that Travala had reached out, that there had been a couple of calls where more information was shared and ultimately Booking.com decided not to progress.
The company could be valued at in excess of $100 million, the sources said. It had more than $100 million in revenue last year and that number is expected to grow exponentially in 2025.
Crypto exchange Binance will have say about whether a deal happens or not. It is a large minority holder of Travala and has a seat on its board. Binance declined to comment.
Travala is a Singapore-based crypto-native travel platform founded in 2017 that has its own loyalty rewards token AVA, which has a market cap of $47 million. The token has lost 40% this year.
Travelers can pay for their holidays in over 100 different cryptocurrencies as well as using traditional payment methods. As part of the AVA Smart Program, customers who book their trip with crypto can receive up to 10% back in bitcoin (BTC) or AVA, discounts, or token bonuses.
Booking.com is is owned by Booking Holdings (BKNG), which is listed on the Nasdaq exchange.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
