Traveloka ramps up food delivery business as it prepares for its IPO

The travel unicorn appears to be hiring in-house couriers as it joins an increasingly crowded space.

Traveloka, the Indonesian travel unicorn, is ramping up its food delivery business as it prepares for an initial public offering. The company appears to be onboarding new restaurants onto its Traveloka Eats platform, while also hiring in-house delivery couriers.

Tech in Asia has reached out to Traveloka for comments.

food delivery, gofood, GrabFood, Indonesia, IPO, ShopeeFood, Traveloka, Traveloka Eats, unicorn

Photo credit: Traveloka

Traveloka Eats initially started out as a restaurant directory and review platform. It started to quietly offer deliveries late last year through a partnership with logistics company Lalamove – both companies share an investor in Hillhouse Capital.

It would also provide the company, which has been hit severely by the Covid-19 pandemic, with a new revenue stream as it awaits the travel industry’s recovery. Food delivery has been a key revenue driver for Gojek and Grab when their ride-hailing businesses were impacted by the pandemic.

Still, the space Traveloka is joining is an increasingly crowded one. Aside from incumbents GoFood and GrabFood, ShopeeFood recently entered the fray as it aims to replicate its success in the e-wallet space.

According to a terms and conditions document reviewed by Tech in Asia, the travel unicorn is charging merchants 15% per order. This is lower than GoFood and GrabFood, both of which charge 20%.

For Traveloka, food deliveries could be a way to boost user numbers and valuation multiple as the company prepares for a listing in the US. Compared to flights or hotel bookings, food delivery has a relatively higher order frequency (albeit with thinner margins).

Most recently, the company is said to be in advanced talks to go public by merging with Bridgetown Holdings, a SPAC backed by billionaires Richard Li and Peter Thiel. The deal could bring Traveloka’s valuation to US$5 billion.

News Related


Nearly 130,000 mobile subscriptions delivering spam calls deactivated

As many as 128,970 mobile subscriptions that delivered spam calls and messages have been deactivated since last July, according to the Vietnam Telecommunications Authority under the Ministry of Information and Communications. A subscriber… Read more »

Chinese greentech firm launches smart charging robot for EVs

Chinese greentech firm Envision Group unveiled a new electric vehicle charging robot fully powered by green electricity. Called Mochi, the device will be commercially available starting in June this year, according to a… Read more »

Workshop looks into opportunities, challenges in digital transformation

Illustrative image (Source: internet) HCM City (VNA) – A workshop was held in Ho Chi Minh City on April 23 to discuss opportunities and challenges facing firms amid digital transformation. It was co-hosted… Read more »

Indonesia’s ecommerce logistics giants brace for a price war

Unlike their ecommerce partners with their glitzy billion-dollar valuations, Indonesia’s third-party logistics companies mostly stay in the background. But that has changed in the past few months. First, SiCepat raised a US$170 million… Read more »

How Tokopedia democratizes logistics for Indonesian businesses

When the world was put in lockdown, the already complicated cross-border supply chain was in dire straits. Matching supply to demand became even more challenging, and even simple deliveries were troublesome. Logistics companies… Read more »

Sources: Gojek, Tokopedia to form combined company Goto once $18b merger is finalized

“Gojek and Tokopedia, two of Indonesia’s biggest internet companies, are finalizing their US$18 billion merger to create a giant in ride-hailing, food delivery, and ecommerce,” The Information reported, citing people familiar with the… Read more »

Shopee Indonesia denies claims of underpaid in-house couriers going on strike

Shopee Indonesia denies claims that couriers from Shopee Express, its in-house logistics arm, went on strike in protest of recent adjustments to their fee schedule, leading to delivery delays. Handhika Jahja, Shopee Indonesia’s… Read more »

Singapore accelerator selects 11 pre-series A startups for its fourth cohort

Singapore-based accelerator Accelerating Asia announced it has selected 11 companies as part of the fourth cohort of its flagship 100-day program for pre-series A startups. Founders Amra Naidoo and Craig Dixon/ Photo credit:… Read more »

Should Grab and Gojek drivers be considered employees, not contractors?

Drivers on super apps like Grab and Gojek are called “partners,” but the reality is that this relationship is hardly equal. Hendry, a full-time ojek driver in Tangerang Selatan, a city 30 kilometers… Read more »

Indian edtech major Byju’s eyes global markets, to launch in Indonesia by May

“India’s edtech leader Byju’s is now turning its attention to international markets with a one-to-one learning platform called Byju’s Future School,” Entrackr reported. Details: The platform will be launched in USA, UK, Australia,… Read more »

Indonesian agritech is pandemic-proof, but here are the warning signs

Indonesia’s agriculture industry is proving to be pandemic-proof. The country’s Central Statistics Agency (Badan Pusat Statistik) recorded that agricultural exports went up by a little over 14% between 2019 to early 2021, with… Read more »

Ex-Sunseap Group exec’s startup to raise $100m for its battery-swap business

Oyika, a Singapore-based startup aiming to lower the barriers to electric vehicle adoption in developing countries, said it is raising US$100 million for its energy-share business in Southeast Asia. The company neither specified… Read more »

Eduardo Saverin’s B Capital Group launches $415m fund, enters China

Facebook co-founder Eduardo Saverin’s B Capital Group announced the close of a US$415-million fund on a new investment category within the firm. However, the company didn’t specify if this would be the first… Read more »

Will ShopeeFood bulldoze its way into Indonesia’s food delivery scene?

The motorcycle jackets are out and so are the Instagram ads – Shopee has quietly launched ShopeeFood in Indonesia. Food delivery is not new territory for its parent firm Sea Group, as shown… Read more »

The untold truth of tourism’s post-lockdown ‘recovery’

Unless you had a valid reason to travel for work in the past year, you likely had to swap out that beach vacation for a staycation or a trip to the local zoo.… Read more »

Letter to readers: Indonesia’s final frontier

Dear readers, I watched a fair bit of Star Trek growing up. I still do. There’s something about venturing into a new frontier that appeals to me. But it’s all escapism. In the… Read more »

SEA remains a top market for tech recruitment despite rising compensation packages: study

Southeast Asia remains an attractive market for tech companies to secure talent, despite increasing compensation packages within the region, a report from Monk’s Hill Ventures and Glints showed. Lim Kuo-Yi, managing partner of… Read more »

Deep Dive: Behind Sea’s latest moves

Over the past few weeks, one company that has frequently been hitting the headlines is Singapore-headquartered Sea. As the biggest Southeast Asian internet business, dwarfing startups and listed companies alike in valuation, every… Read more »

How hospitality startup RedDoorz saw record revenues despite Covid-19

With additional reporting by Aditya Hadi and Terence Lee. As the Covid-19 pandemic unfolded last year, Singapore-based hospitality startup RedDoorz posted record revenues, according to a recent report by growth equity firm Asia… Read more »

Alleviating rural Indonesia’s FMCG issues

Every day, 100k+ smart people read our newsletter. You can sign up here. Hello readers, I ran out of milk for my cereal a couple of days ago. I’m ashamed to admit that,… Read more »

Covid-19 has equalized digital competitiveness across Indonesia’s provinces, says East Ventures report

The accelerated digital transformation brought on by the Covid-19 pandemic has equalized the digital competitiveness across provinces in Indonesia, a report from East Ventures noted. Photo credit: Pexels The East Ventures Digital Competitiveness… Read more »

A startup looks to become Indonesia’s next big consumer goods brand

In their previous jobs, Wilson Yanaprasetya and Ryan Manafe got a firsthand look at Indonesia’s struggle to modernize, especially in areas outside the major cities. “Most of Indonesia looks nothing like Jakarta,” says… Read more »

How LinkAja can help Grab and Gojek fend off ShopeePay

LinkAja has done something that Grab and Gojek couldn’t do themselves: Thanks to the Indonesian digital wallet, the rival super apps have laid down their arms and joined the same company as shareholders.… Read more »

Sources: Facebook’s payments partnership with Gojek affected by delays

“Facebook’s partnership with Indonesian technology startup Gojek has been hit by delays, stalling the US technology company’s expansion into one of the world’s biggest social media markets,” reported the Financial Times, citing sources… Read more »

How Disney+’s Indonesian rivals plan to fight back

The total viewing time spent by video on demand (VOD) service subscribers in Indonesia has reached 3 billion hours per month, according to research conducted by digital marketing firms TradeDesk and Kantar. The… Read more » appoints former ProperGuru exec as deputy CEO for Indonesia

Southeast Asian proptech firm said it has named Wasudewan as the company’s new deputy CEO for its Indonesia unit. Darius Cheung on stage at Tech in Asia Jakarta 2017 / Photo credit:… Read more »

Indonesia to introduce rules to prevent predatory ecommerce pricing, sources say

“Indonesia will issue a regulation to prevent predatory pricing on ecommerce platforms, including for Chinese goods, a minister said on Thursday, as President Joko Widodo urged consumers in Southeast Asia’s biggest market to… Read more »

His startup was acquired by Ovo. Now, he wants to build a global F&B brand

In March 2019, Abraham Viktor joined Ovo after selling Taralite, the peer-to-peer lending startup he founded, to the Indonesian fintech unicorn. But just three months later, he packed his bags and left. “At… Read more »

What’s powering GudangAda’s growth?

Indonesia is on the road toward digital transformation. According to McKinsey, embracing digitalization would help the country reach new levels of economic growth, adding an estimated US$150 billion to its gross domestic product… Read more »

Grab aids Indonesia’s Covid-19 vaccination push via drive-through service

“Southeast Asia’s ride-hailing giant Grab is setting up drive-through vaccination services across Indonesia in collaboration with the government to help the nation inoculate more than 180 million people against Covid-19,” Bloomberg reported. Details:… Read more »

Report: Traveloka plans to launch fintech services in Thailand and Vietnam

“Traveloka, Southeast Asia’s largest online travel startup, plans to launch financial services in Thailand and Vietnam as it eyes a US listing through a blank-cheque company,” reported Reuters, citing the company’s president. Details:… Read more »

Warung Pintar acquires B2B ecommerce firm Bizzy Digital in $45m deal

Indonesian microretail startup Warung Pintar announced that it has acquired Bizzy Digital, an integrated business-to-business ecommerce firm, for US$45 million. Bizzy Group CEO Andrew Mawikere / Photo credit: Bizzy The companies, however, didn’t… Read more »

TikTok ramps up ecommerce hiring in Indonesia, Singapore

Short-video platform TikTok has started hiring for its ecommerce service in Indonesia and Singapore, opening positions across several areas. Photo credit: Pikist Listing the jobs a week ago, TikTok is mostly looking for… Read more »

How Tokopedia is raising the bar for financial literacy in Indonesia

How do you raise the quality of life for Indonesia’s 275 million residents? In a country where an estimated 66% of citizens are unbanked, the answer lies in fintech. That’s what some of… Read more »

Report: Oyo to lay off half its Latam unit staff as SoftBank exits partnership

“The Latin American unit of Indian hotel startup Oyo Corp has ended its joint venture with the SoftBank Latin America Fund, less than six months after they struck a partnership in the region,”… Read more » sees 62% surge in 2020 revenue amid Covid-19 setbacks

Finding a new home, whether to own or to rent, can be a daunting and time-consuming process. At a time when visiting a physical site is a real challenge, Singapore-based real estate portal… Read more »

Sea’s shadow looms over a Gojek-Tokopedia merger

As Gojek and Tokopedia face strong competition at home, a merger would refresh their narrative – and prime them for a public listing. But it would also put the merged entity right in… Read more »

Will Ovo complicate a Gojek-Tokopedia merger?

If it pushes through, the Gojek-Tokopedia merger would be a significant event in its own right. But the deal could also put into question an established alliance in Southeast Asia’s tech industry. At… Read more »

Edtech needs to do some soul-searching as it powers ahead

“It’s like a superpower. I feel like I can solve any problem in the world,” says Shresth Kant, a 13-year-old from the North Indian city of Mohali, Punjab. Kant’s enthused conversation about coding… Read more »

Disney+ Hotstar pulls in 2.5m subscribers in Indonesia, surpassing Netflix

Total paying subscription video-on-demand (SVOD) customers for the top 10 operators in Indonesia reached roughly 7 million, with Disney contributing a significant chunk to that number. According to research platform Media Partners Asia… Read more »

Is the IDX ready for tech listings?

Every day, 100k+ smart people read our newsletter. You can sign up here. Hello readers, When the term “IPO” is brought up, ringing the bell at the New York Stock Exchange is probably… Read more »

Sea Group commissioner: Why now is the time for local unicorns to IPO

The rumors of Indonesian companies planning to carry out an initial public offering are growing louder. Tokopedia, Gojek, Traveloka, and Bukalapak are prominent examples. The drying up of private market capital could be… Read more »

GrabToko founder arrested by police on the charge of online scamming

“Founder of Indonesia-based electronic ecommerce GrabToko, Yudha Manggala Putra, has been arrested by local police on the charge of online scams and money laundering,” reported Kompas. GrabToko is an ecommerce company that sells… Read more »

Indonesia’s GrabToko reported an investor to the police for embezzlement

“Indonesia-based electronic ecommerce firm GrabToko claimed that its investor has embezzled the company’s money,” reported CNBC Indonesia. GrabToko is an ecommerce company that sells new Android smartphones and iPhones at a steep discount.… Read more »

The supporting cast in Indonesia’s ecommerce boom

Every day, 100k+ smart people read our newsletter. You can sign up here. Hello readers, I love online shopping. There’s just something magical about buying an item online and having it appear at… Read more »

Indonesian shipping firm Sicepat raises $50m in series B funding

Indonesian logistics firm Sicepat Ekspres raised US$50 million in a series B funding round from Praus Company. Photo credit: tomas1111 / 123RF The new financing round gives the Indonesian company a post-money valuation… Read more »

Indonesian fintech firm Finantier secures Y Combinator backing

Finantier, a fintech firm based in Indonesia, said it has received an undisclosed amount of funding from US startup accelerator Y Combinator. Finantier CEO Diego Rojas (left) and chief product officer Keng Low… Read more »

Edfintech is changing Indonesia’s unaffordable education system

Every day, 100k+ smart people read our newsletter. You can sign up here. Hello readers, Growing up in Singapore, I’d never even thought of education as a privilege. Moving from kindergarten all the… Read more »

Traveloka evaluates merger with SPAC route to go public, report says

“Traveloka, Southeast Asia’s largest online travel app, said on Monday it was looking to go public soon and was evaluating a merger with a special purpose acquisition company (SPAC) as a possible stock-market… Read more »

Why ‘edfintech’ is ripe to thrive in Indonesia

Annisa is a communications student at one of Jakarta’s top private universities. But the economic disruption caused by Covid-19 cut into her family’s income, and she was unable to pay her school fees… Read more »