Asia-based online travel agency (OTA) Klook has announced the closing of a U.S. $210 Million funding round led by Bessemer Venture Partners.
Klook says it achieved overall profitability in 2023. Klook credited its success to the rebound of travel in Asia this year, and its app-first approach: over 80% of bookings on its platform are made on mobile.
With the influx in funding, Klook plans to focus its efforts on growth in three main areas: product innovation, furthering generative AI integration across its platform, and social and digital marketing.
Social media marketing has been a key arena of focus for the company: at Arival Activate | Bangkok this year, Klook CCO Wilfred Fan discussed a shift in experience booking behavior from search towards social media and how younger generations of travelers are driving the shift. Recent Arival research on the U.S. experiences traveler confirms this shift is echoed among U.S. travelers.
The Future of Experiences in Asia
Join us in March at Arival 360 | Berlin 2024, where we’ll have a featured panel discussion on the future of experiences in Asia. Klook CCO Wilfred Fan spoke on our panel last year about the travel rebound in Asia and the outlook for the region.
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