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Coinpaprika 2025-01-28 08:29:22

Binance-Backed Travala Explores $100M Acquisition Offer

Binance-Backed Travala Explores $100M Acquisition Offer

Travala.com, a blockchain-based travel platform supported by Binance , is reportedly exploring acquisition opportunities after receiving an unsolicited offer. Known for accepting cryptocurrency payments, Travala has shown robust financial performance, generating over $100 million in annual revenue. The company is valued at approximately $100 million, with significant growth potential driven by the rising adoption of cryptocurrency payments. Founded in 2017, Travala offers over 3 million travel options across more than 230 countries, allowing customers to pay with various cryptocurrencies, including its native token, AVA. Despite a surge in AVA's value following Binance’s disclosure of its investment, the token’s performance remains subdued. Recent reports indicate that Booking.com initially explored acquiring Travala but decided not to move forward . Talks with other potential buyers are ongoing, but no agreements have been reached. Travala may ultimately decide to remain independent. Binance, a key stakeholder in Travala, is expected to play a decisive role in any potential sale . The cryptocurrency exchange’s approval would likely be required for any deal to proceed. Travala's recent success includes surpassing $100 million in gross annual revenue, a significant increase from $59.6 million in 2023. This growth is attributed to a rise in bookings for flights and hotels, which can be paid for using over 100 cryptocurrencies. However, AVA’s market cap, which peaked at $180 million, has since dropped to $48.7 million. The company has been a pioneer in decentralized travel innovation. In 2021, Travala launched Dtravel, a blockchain-based platform competing with Airbnb. Dtravel allows users to share ownership through TRVL tokens , which also provide voting rights for governance. Dtravel operates on Ethereum and Binance Smart Chain. In addition, Travala formed a strategic partnership with Viator, a Tripadvisor subsidiary, in 2020, significantly expanding its travel offerings. Recently, the platform integrated Solana to support stablecoin payments with USDC and USDT. Despite these advancements, growth has slowed in recent years due to the dominance of larger travel platforms. Industry analysts believe that an acquisition could help Travala scale its operations and accelerate expansion. As Travala explores its options, its future ownership remains uncertain , but its strong financial foundation and innovation in blockchain-based travel keep it well-positioned for growth.

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