The document provides a map of global online travel agencies (OTAs) including basic OTAs, comparing sites, and neo OTAs. It shows the growth trends of different types of OTAs over time in the US/Europe and ASEAN countries. Key details include the oldest and largest OTAs, major exits through IPOs and acquisitions, and the relatively fewer but growing number of OTAs launching in ASEAN countries in recent years with some receiving funding.

1. Global Online Travel Agency (OTA)
Service Map
by Yumi Tsuda

2. 2
Global Service Map
＜Other Independents＞
(Comparison) [1.9M]
(Neo OTA) [52.7M]
＜ASEAN Biggs>
(Basic OTA) [8.4M]
(Basic OTA) [6.8M]
(Basic OTA) [1.7M]
(Basic OTA) [4.6M]
(Hotel OTA) [5.1M]
(Basic OTA) [11.8M]
(Hotel Booking) [129.4M]
(Comparison) [12.9M]
(Neo OTA) [10.3M]
(Tour OTA) [6.9M]
(Comparison) [19.1M]
(Booking Management SaaS)
Oldest
Brands
Expedia Group
(by IAC)
IPO
(Basic OTA) [30.9M]
(Hotel OTA) [291.3M]
(Hotel OTA) [32.1M] @SG
(Comparison) [31.6M]
(Booking Management SaaS)
Huge
Traffic
Priceline Group IPO
(Neo OTA) [884K]
(Basic OTA) [43.9M]
(Tour OTA) [236K]
Biggest in
China
Ctrip Group
(Tour OTA) [7.8M]
IPO
IPO
(Basic OTA) [23.3M]
(Basic OTA) [6.0M]
(Bus OTA) [7.0M]
(Comparison) [1.0M]
@Thailand
Has taken
India
MakeMyTrip Group
(Hotel OTA) [8.8M]
IPO
Invests
[]: Estimated monthly visits

3. 3
Way to Exit of Main Service of Each Group
Country Founded Exit
Years
to Exit
Fund
Raised to Exit
Major Investors
US 1996 2003, Acquired by IAC 7 years N/A IAC
US 1996
1999, Went Public
(NASDAQ)
3 years $77M
Harmony Partners,
1st Venture
China 1999
2003, Went Public
(NASDAQ)
4 years $26M
IDG Capital Partners,
SAIF Partners
India 2000
2010, Went Public
(NASDAQ)
10 years $39M
Helion, SAIF Partners,
Sierra Ventures

4. Basic
OTAs
Hotels.com (’91) Expedia (’96) TripAdvisor (’00)
Booking.com (’96)
Travelocity (’96)
Priceline.com (’98)
(Agoda (’05))
Comparing
Sites
Bookit.com (’00) Kayak (’04)
Orbitz (’01) Trivago (’05)
SkyScanner (’03) DealBase (’08)
Mibissimo (’03)
Neo
OTAs
Homeaway (‘05) AirBnB (’08) Saxyful (’13)
Room 77 (’10) Jetbay (’14)
HotelTonigt (’10)
Wanderable (’11)
Olset (’12)
▼Internet penetration in US and birth trend of services
Birth trend of services in US/Europe
Basic OTAs
Comparing sites
Neo OTAs
Source: Google Public Data

5. 5
M&A trend of services in US/Europe
1990- 1995- 2000~ 2005~ 2010~ 2015~
(‘03)
(’04)
(’12)
(’14)
(’15)
(’15)
(’15)
(’98)
(’05)
(’07)
(’12)
(’14)
Point : The year the service launched
(): The year the service M&Aed

6. 6
Birth trend of services in ASEAN
1990~ 2000~ 2005~ 2010~ 2015~
Basic OTAs
Hoteltravel.com (’99) TNK Travel Vietnam (’01) Agoda (’05)
Wego (’05)
Asiabooking (’07)
Vokamo (’04)
Tiket2 Indonesia (’10)
Oway (’11)
IVIVU (’11)
Kamar Murah (’11)
My Bali Property (’11)
NyariKost (’11)
Tiket.com (’11)
Traveloka (’12)
Atadi.vn (’13)
Dumaybay (’13)
Vebay24h (’13)
Arena Ticket (’13)
Vntrip.vn (’14)
PegiPegi (’15)
Inap (’15)
Hotel n Tiket (’15)
Eksotiktour (’15)
HoreTravel (’15)
FLyMya (’15)
Comparing
Sites
DirectRooms (’99)
Neo OTAs
Ministry of Villas (’12)
The Gay Passport (’13)
Travelmob (’12)
RoomToday (’15)
Nida Rooms (’15)
Travelio.com (’15)
Tour
Booking
Eazytour (’11)
tripvisto (’14)
Travacello (’14)
Tripovo (’15)
Pikavia (’15)
Yellow：Raised Fund / Exited Blue：1M+ of estimated monthly visit
Some services (like those founded by foreigners) appeared earlier, but mostly started to come out after 2010.

7. ▼Internet penetration and birth trend
7
Birth trend of services in ASEAN
Hoteltravel.com
Directrooms
Tiket.com
Traveloka
Oway
FlyMya
PegiPegi
IVIVU
Vtrip.vn
Ctrip
MakeMyTrip GoIbibo
Vietnam
China
Philippines
Thailand
India
Indonesia
Myanmar
Source: Google Public Data

8. 1,500
3,000
US India Singapore Indonesia Thailand Malaysia Vietnam Philippines Myanmar
Still very few, compared to US and India
8
The number of services in ASEAN
*The number of word search hit in Tracxn (2016/10/28)
Singapore Indonesia Thailand Malaysia Vietnam Philippines Myanmar
271085
35
57
3
14
282831
95
132
11
36
52
7066
190
336 "Travel" "Hotels" "Flights"

9. 9
Funded Services in ASEAN
Country Founded Service Raised to date Major Round Major Investors
Singapore 2005 Flight Booking $60.5M 2015, Venture
2013, Series C
Crescent Group, Tiger
Global Management
Indonesia 2015 Branded Hotels $5.5M 2016, Pre-Series A Convergence, Cyber
Agent
Indonesia 2012 Hotel Booking $3M 2012, Venture Recruit (JV)
Vietnam 2014 Hotel Booking (Official partner of
Booking.com)
$3M 2016, Series A F&H (SG)
Indonesia 2015 Price Negotiable Hotel Booking $2M 2015, Seed Gobi, SURYA SEMESTA
INTERNUSA
Singapore 2015 Branded Hotels $1M 2015, Seed Ooredo, Rocket
Internet
Myanmar 2015 Flight Booking $1M 2016, Series A BOD Tech
Indonesia 2014 Tour Booking $1M 2015, Series A Gobi, East Ventures
Indonesia 2012 Flight Booking Undisclosed 2013, Series A Global Founders
Capital,
East Ventures
Myanmar 2011 Hotel & Flight Booking Undisclosed 2015, Venture Beenext
Malaysia 2002 [to B] OEM of Booking Service. Undisclosed 2015, Venture GGV, DMP
Funded services are still very few too.

10. • Services in ASEAN are still in funding phase. They need more fund to
grow.
• The M&A trend is totally cross-border. How US huge groups will
expand to Asia?
• It’s time for “Neo OTAs” globally. Who will win in each market?
10
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