Become a Lifestyle Superapp, Now Traveloka Has Telemedical Features to Investment

Traveloka has now changed to super app which focuses on lifestyle fulfillment. According to the jargon used, super app synonymous with an application that combines various types of services in one platform. In addition to developing themselves, they usually also carry out strategic partnerships with other startups or companies.

Present as a service online travel agencies, Traveloka product variants are now expanded with the presence of various new categories. Most recently, they entered the field of healthtech by presenting a number of services, including telemedicine, aka virtual doctor consultation services. For this service, they have their own business entity under PT Nawanusa Medika Teknologi.

The telemedicine feature is one of several services found on the “Health” menu in the Traveloka application. In addition there are services medical check-up, dental care, and other health facilities – mostly Traveloka acts as an intermediary for patient registration, booking, and payment.

Apart from health, new services are emerging in the financial category. Most recently, they now have a gold investment service, in collaboration with Pegadaian. Additionally, features marketplace insurance (insurtech) it also continues to expand by reaching more products. Again, the basis is their ambition to become a super application that meets the lifestyle demands of today's society.

Strategy to survive in the midst of a pandemic

The various restrictions implemented in many countries to stop the spread of Covid-19 certainly have a direct impact on the accommodation and transportation industry, including OTA. According to date, in 2020 there was a decline in market value of up to 20%. In 2019 the OTA business managed to record a value of $744,7 billion, while in 2020 it decreased to $595,8 billion.

Likewise in Indonesia, the PPKM which is being intensified by the government limits the use of various public transportation, such as trains, planes, etc. There is even a ban on carrying out the homecoming tradition - even cutting holidays to reduce people's mobility. Meanwhile, these moments are usually a "harvest" for OTA platform providers.

"It cannot be denied that Traveloka has been greatly affected by the Covid-19 pandemic. Our business is at an unprecedented low since we were first established. However, we always believe that Traveloka will bounce back with quick business strategy adjustments," said Co-founder & CEO Ferry Unardi when announcing the acquisition $250 million in new funding or the equivalent of 3,6 trillion Rupiah in July 2020.

Survive through activity and finances

Last year, when travel activities had to be limited, Traveloka chose to optimize features Xperience which is in the application. They present various activities online, starting from virtual tours, workshop, up to class online. Some time later, they decided to enter business food delivery with TravelokaEats – based on a directory of dining locations in its database, then strengthened by recruiting partners for ordering and delivery. Apart from that, they also have other basic infrastructure, namely: fintech.

"Another effort we are making is to find new ways to provide services to users adapting to changes customer At the moment. One of them is the expansion of local services and services fintech," said Traveloka President Caesar Indra on one occasion.

For service fintech, currently Traveloka is aggressively developing products paylater they. Apart from its own application ecosystem, these payment products are now starting to be applied to other platforms such as E-commerce. Apart from that, several features such as Instant Debit and Co-Brand Credit Card are also mainstays – considered more suitable to support today's lifestyle. Meanwhile, for electronic money, they chose to partner with UANGKU owned by PT Smartfren Telecom Tbk.

Service ecosystem

As of today (30/11), there are at least 46 service features that can be accessed via the Traveloka application. If grouped further, Traveloka currently accommodates several service categories, including transportation, accommodation, equipment, activities, payments, bills, insurance, investment, food, and others. However, the nuances presented in the application still emphasize it as an OTA - new features outside of travel and accommodation have not been really highlighted.

Expanding the service ecosystem is clearly part of the strategy so that Traveloka can continue to gain maximum traction, because basically the pandemic has not completely disappeared. Moreover, several strategic actions will be promoted, one of which is regarding plans go public.

Previously, there was news that Traveloka would make an agreement with Bridgetown Holdings Ltd. for SPACs. However, information recently emerged that Traveloka's board of directors decided not to continue with this step. The reason is more or less the same as for MNCs, because enthusiasm for SPACs has waned with their high frequency in the market. The company will likely explore a traditional IPO process, remaining on a US exchange, according to sources Bloomberg.

On the other hand, Traveloka is also intensifying its investment in other startups - which are considered to have the potential for synergy. It is recorded that throughout 2021 they have invested in Member.id, Sirclo, and PouchNATION.

To be lifestyle super app This is indeed a quite relevant choice, because fundamentally, as an OTA, the existing service ecosystem is aimed [one of them] at fulfilling lifestyles. So the next task is to expand the scope of features to be able to provide comprehensive services.