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Published on Monday, July 12, 2021

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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