Work.com, the vacation website that allows users to pay with cryptocurrencies, is in talks with potential buyers after receiving an unsolicited buyout approach at the end of last year, according to two people knowing The subject.
The company supported by Binance has received an investigation, triggering an awareness of work advisers from large online travel agencies such as Booking.com, one of the largest online travel companies in the world.
Booking.com “kicked the tires” before deciding to give up a possible acquisition, said sources, which required anonymity because the case is private. However, discussions are underway with other potential buyers, but there is no certainty that an agreement will be concluded and the company could choose to remain independent, the sources said.
Travala refused to comment. A spokesperson for Booking.com confirmed that work had contacted him, that there had been some calls in which more information had been shared and that Booking.com had finally decided not to progress.
The company could be valued at more than $ 100 million, according to sources. Its turnover amounted to more than $ 100 million last year and this figure should grow exponentially in 2025.
The exchange of crypto binance will say whether or not an agreement will take place. It is an important minority shareholder in Travala and sits on its board of directors. Binance refused to comment.
Travala is a cryptocurrency travel platform based in Singapore, founded in 2017, which has its own AVA loyalty award token, a market capitalization of $ 47 million. The token lost 40 % this year.
Travelers can pay their holidays in more than 100 different cryptocurrencies as well as using traditional payment methods. As part of the AVA Smart program, customers who reserve their trip with crypto can receive up to 10 % Bitcoin (BTC) or Ava, discounts or symbolic bonuses.
Booking.com belongs to Booking Holdings (BKNG), listed on the Nasdaq Stock Exchange.
