Softbank to invest in South Korean travel platform Yanolja
Major tech investor SoftBank is planning to buy a stake in South Korean hotel booking platform Yanolja.
Yanolja also operates hotels and offers cloud-based hotel management solutions
It comes as Yanolja plans to go public.
Yanolja hired Mirae Asset Daewoo and Samsung Securities as underwriters for an IPO.
It launched in 2005 as a budget hotel aggregator but has since positioned itself as an OTA, also selling attractions, rail tickets and restaurant reservations.
It is famous for bringing South Korean love hotels into the mainstream.
It has also received financial backing from Booking Holdings.
In May, Softbank announced plans to buy Booking Holdings shares in Yanolja.
Softbank could reportedly invest up to $2 billion
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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