• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • MSS
    • NIPA
    • SBA
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • KoreaTechDesk Monthly Pitch
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • register
  • login
No Result
View All Result
No Result
View All Result
Home Investments

Korean startup Yanolja: A travel ‘unicorn’ startup that withstood challenging times of pandemic era 

Jeon Jinju by Jeon Jinju
January 27, 2021
in Investments, Marketplaces & E-commerce
1
South Korean accommodation booking website operator Yanolja Co. announces two big acquisitions

Yanolja App

0
SHARES
558
VIEWS
Share on FacebookShare on Twitter

The year 2020 had been catastrophic for the travel & hospitality industry globally with the COVID-19 pandemic that put a deep dent in the revenues. However, one Korean startup in the travel & hospitality sector has resiliently stood the trials of the pandemic era and emerged stronger. Yanolja, the Seoul-based accommodation and leisure activity booking platform, is the fastest-growing travel ‘unicorn’ startup of South Korea. 

Accommodation, Transport, Leisure on one platform

Known as a ‘Super App’ in the online travel business, Yanolja provides all services for travel including accommodation, leisure, and transportation in Korea. The accommodation booking services firm became a unicorn in 2019 with a market value exceeding 1 trillion won ($855 million). The 15-year-old startup offers reservations at accommodations in more than 160 countries worldwide and is a dominating player in the local tourism industry with over 12 million users in Korea using the platform.

Yanolja’s main app offers travellers and business visitors options to book rooms and transport services. It offers various properties for booking like motels, hotels, glamping/camping, pool villas, overseas accommodations. Users can book transport services like renting cars, airline tickets and also book leisure activities like spas, resorts, etc. The app also offers special prices, coupons, first-come-first-serve basis service, early-bird discounts, and a special point accumulation system for regular users. 

Yanolja offers multiple options to users.

In the offline sector, Yanolja is one of the largest franchise operators in Southeast Asia, managing more than 10,000 rooms. It is also Asia’s best full-stack hospitality company, supplying an integrated hotel platform by effectively utilizing IoT, AI, and blockchain technologies. Yanolja has developed one of the biggest hotel property management services wherein it has integrated entire hotel operations, covering from the front office to back office including housekeeping and maintenance. Yanolja connects the B2B2C value chain of the travel industry with a one-stop network and integrates it into a single platform.

Growth despite COVID-19 pause

The startup’s gross annual sales in 2019 were 300 billion won up 78.8 percent from the year before. Of the total, 270 billion won came from domestic sales, a 68 percent year-on-year growth, while overseas sales totaled 30 billion won, an over four-fold increase from 6.9 billion won in the same period. Despite the COVID-19 crisis, Yanolja made a good stride in 2020 as well with data from Wise App, a data analysis service showing a growth of about 4 percent in year-on-year sales as many Koreans opted to travel local destinations over overseas trips. 

Yanolja also made significant investments in 2020. The travel startup invested $9 million (10 billion Korean won) in Triple, a travel data services startup. The company acquired Dailyhotel, its biggest rival in the country and Indian lodgings management platform eZee Technosys. The startup had announced its plan to enter the public market in 2021 and with everything going in its favour, the plan may soon be executed. “The IPO will be an important process for our company’s goals to transform into a global hospitality solution provider and a super app for leisure,” said an official from Yanolja in a media statement, “We will contribute to the development of the [accommodation] industry through digital transformation and leading the global market.”

With the COVID-19 vaccination on the roll and globally the disease showing signs of slowing down, Yanolja could expect a boisterous year ahead. 

Also Read, 

  • Top 5 K-Content Korean startups looking to hit the ‘unicorn’ status
  • Korean Travel startup My Real Trip gets fresh investment of $36 million amidst pandemic slowdown
  • TravelFlan raises $ 7 million in Series A funding led by SPK AI Travel Tech Fund
  • Korean startup Doongle’s social media app is the perfect platform for global travelers to make local friends  
What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: Korean StartupKorean TravelTravel & HospitalityTravel AppYanolja
Previous Post

Top Korean startups in Biotech to watch out for in 2021

Next Post

Top programs & agencies that support foreign startups in Korea 

Next Post
Top programs & agencies that support foreign startups in Korea 

Top programs & agencies that support foreign startups in Korea 

3 2 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
No Result
View All Result

FREE NEWSLETTER

PRODUCTS

Most Popular

  • DoubleMe that runs real-world metaverse platform ‘TwinWorld’ raises $25 million in funding 

    0 shares
    Share 0 Tweet 0
  • Top Korean Dating apps that can help you make new connections in South Korea

    12 shares
    Share 12 Tweet 0
  • FinTech startup Quantit & Privé Technologies award-winning robo-advisor RABIT helps crypto investments

    0 shares
    Share 0 Tweet 0
  • 10 K-Dramas to watch for some ‘money matters’

    0 shares
    Share 0 Tweet 0
  • Top 3 Websites where you watch Korean drama & movies

    12 shares
    Share 12 Tweet 0
  • AI media translation startup XL8AI attracts investment from Future Play 

    0 shares
    Share 0 Tweet 0
  • Korean startup Mars Auto set to launch self-driving trucks in 2023

    0 shares
    Share 0 Tweet 0
  • Korean startup Voithru’s global expansion platform JAMAKE allows YouTube influencers to truly own the world

    1 shares
    Share 0 Tweet 0
  • Korea’s leading Interior design platform ‘OHouse’  attracts $190 million in investment

    0 shares
    Share 0 Tweet 0
  • K-Pop music copyright trading platform Musicow attracts $79 million investment

    0 shares
    Share 0 Tweet 0
  • Facebook
  • Instagram
  • Twitter

Copyright © 2021 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • MSS
    • NIPA
    • SBA
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2021 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

Posting....
wpDiscuz
1
0
Would love your thoughts, please comment.x
()
x
| Reply

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.