Tiket.com is known to have never raised funding from a venture capital firm

Indonesian online travel agent Tiket.com is in talks of an acquisition by venture capital firm GDP Venture, DailySocial reported.

Citing anonymous source familiar with the matter, GDP Venture is said to plan to acquire more than 50 per cent of shares in Tiket.com.

Spokespersons from GDP Venture and Tiket.com neither declined or confirmed the news.

Founded in 2011, together with Traveloka, Tiket.com is the leading OTA in the Indonesian market. It is known to have never raised funding from a venture capital firm; the last funding round that it has ever raised was a seed funding from an undisclosed angel investor, reportedly an individual who is “related to the Emtek Group family.”

In 2015 alone, the startup reported over 100 per cent growth from airline and hotel bookings.

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Earlier this year, Tiket.com made headlines across national media when a group of hackers –led by a teenager– successfully broke into its system. The startup lost about US$300,000-worth of airline tickets through the incident.

The investment into Tiket.com will be the second strategic investment that GDP Venture made this year.

GDP Venture had recently taken part in a US$550 million funding round for Singaporean shopping and online gaming company Garena, in which the company then rebranded as Sea. The funding round was meant to fuel Sea’s expansion into the Indonesian e-commerce scene through its e-commerce platform Shopee.

Its portfolio companies are mainly in the e-commerce and digital media sector; popular ones including e-commerce platform Blibli and community platform Kaskus.

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