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Yanolja which is a Korean Hotel platform has raised $180M at a valuation of $1B

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Yanolja which is a Korean Hotel platform has raised $180M at a valuation of $1B

There is another king in the travel tech Industry. Like Airbnb, Travelko, OYO, and Klook, A Korean hotel platform named Yanolja has declared that they have already closed a deal of series D which has a valuation of $1B.

Booking Holdings which a US firm, GIC and Singapore sovereign has already made an investment on that deal. The US  firm has travel services named as Booking.com and agoda.com and more. They have already collected the fund of $60million  according to the CrunchBase data. In the year 2017, Bloomberg announced that their valuation is almost over $500 million.

Yanolja is famous for updating the facilities of hotel services in Korea. They have always tried to make the hotels comfortable for the people who are travelling and for young people. The service was started by Su-Jin who was a former hotel worker. This was started as an advertising foundation for a love hotel. Later on, they started taking the booking through apps.

Today, they have declared that they have almost 200 hotels in Korea and they are trying to expand their business in an overseas level. They try to crack a deal with Zen rooms which was priced at $15 million. It was a Rocket Internet-backed budget hotel room. They are spreading their business with Agoda on an overseas level.

Yanolja and OYO are two parallel organizations. OYO is an Indian company which has given a new look to the unorganized not so popular hotel a new look. OYO has already won the deal of backing Softbank’s Vision Fund. They have raised a fund of $1B which took part in last year. Airbnb is also a partner in this deal.

The company has already flushed themselves with cash and they are also expanding their market into China. They have batched themselves as the nation’s second-largest hotel industry.

Yanolja is also planning to spread its market on an international level.

Kim Jong-Yoon said on an interview with Reuters that “We are very keen to go global.”

Going international is their primary objective. Bloomberg said that they are always ready to do so, but things are not going that well. CEO Kim said that 2022 is a very tough time frame. They have routined their work at that time to expand their business.

It has the capability of potential growth.

Yanolja said that they have raised the revenue up to 70% in the last five years. Reuters added that they already have collected revenue of 188.5 KRW which is almost $160 million.

 

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Tessa Love is a Senior Writer from Berlin. Her work has appeared at various popular media sites such as BBC, The Outline, DAME, etc. At Patty360, she reports news about the latest startups launching in the market. Also, she loves to write about latest technological gadgets. To get in touch with Tessa for news reports he has published you can email him on tessa@patty360.com or reach him out in social media links given below.

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The United Kingdom challenger bank Monzo raised funding of 113 million pounds

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The United Kingdom challenger bank Monzo raised funding of 113 million pounds

Monzo, which is the fastest growing bank of the United Kingdom has been successfully able to raise 113 million pounds in their additional funding. According to the scoop from the TechCrunch, in the month of April, the series F round of funding for Monza was led by Y Combinator’s growth field. People have been given their money and the valuation of the company rose to 2.5 billion from 2 billion post-funding.

Some of the parties which participated in this round of investment were Orange Digital Ventures, Accel, Thrive, Goodwater, Passion Capital, Stripe, General Catalyst, and Latitude.

Latitude, which is a London based company has been part of this investment round. It can also be said that YC’s continuity considering that Monzo. According to a spokesperson of the company:

“Monzo’s new funding round and YC’s backing should be viewed within the context of not only fast growth and increasingly convincing product-market fit in the U.K. — the challenger bank is currently adding 200,000 new sign-ups for its current account each month — but also recently unveiled plans to tentatively launch across the pond.”

It was reported here about five months back that the company was rearranging its team and recruiting a new team so that they can expand their business. The company has plans that they will soon be releasing a United States Monzo application which is connected to Master debit card which is available with in-person signups.

The company has been launching itself in the United States of America with the help of a local bank. The company will soon be applying for the United States Bank License once they have settled down.

In a side note, there were a lot of encounters about the signs which are all London Based which include fintechs which might have layered under the pond. They will also have a smart assistant, which will be called Cleo. Cleo will be helping all the customers to make sure that that they do not face any kind of problem during their time of banking.

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Apply To Compete In Start-up Battlefield For A Shot At TC Fame And Fortune

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Apply To Compete In Start-up Battlefield For A Shot At TC Fame And Fortune

Have you ever thought what difference a $100,000 cash infusion would bring to your start-up? Instead of imagining, you should apply to start-up battlefield at Disrupt San Francisco on October 2-4.

The premier pitch competition has already managed to launch hundreds of start-ups successfully. This not only attracted massive media attention but it also offers a $100k prize, equity free. But the deadline expires on 25th June at 11:59 pm. So if you are interested, you should not miss this chance at TC fame and fortune. You need to fill out an application form I order to get started today.

Any kind of start-up from any country is eligible to enter this program. Also, it doesn’t take anything to apply for it. TechCrunch doesn’t charge any fees or equity.

You have got a whole bunch of expert TechCrunch editors to give you advice. All the participating teams will receive extensive coaching from the experts. This will help you to get prepared for your 6-minute pitch that you are going to deliver on the main stage. Not just that, but you will also feel confident to give a live demo to a panel of top VC and tech judges.

TechCrunch is expecting more than 10,000 attendees for their big Disrupt SF event. This will include thousands of spectators and big media houses, tech influencers and investors. These are the people who could give your start-up the boost that it needs. The event will also be streamed internationally to get the world’s attention.

Start-up Battlefield also has its own community comprising of 857 companies. Your start-up will become a part of an excellent group including Fitbit, Dropbox, get Around, Mint, Burb and more. The alumni have collectively raised $8.9 billion and also generated 110 successful IPOs or acquisitions.

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Discussion With Niantic CEO John Hanke On The Launch Of Harry Potter: Wizards Unite

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Lots of Venmo transactions scraped in warning over the privacy settings

It is been only three years when Pokemon Go was launched. People went crazy over the game so much so that you could trace players almost everywhere on the roads.

The rising popularity of the game took the company Niantic to great heights. The company had started out as a small experimental lab under Google. It was an attempt made by Google to stop John Hanke, the founder of Niantic to part ways and start his own thing. With the launch of Pokemon Go, the team reduced dramatically and then increased rapidly, all while managing Go’s server from buckling under demand.

After long, Niantic is back with a new title Harry Potter: Wizards Unite. The game is built in collaboration with WB games. The concept of the game is location and real-world based.

Just before the game’s UK/US launch, John Hanke had a word with Greg Kumparak. They had a short discussion about the game. How they prepared for the games’ launch, how Niantic’s partnership going on with WB games and other important topics covered the chat session.

John Hanke stated that they had other projects they could work on but Pokemon GO came in early so they got started with it. He also added that Harry Potter is one project that was there from the beginning. They were thinking of doing the project for a long time. Finally, they are able to give it shape.

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