Expedia to Invest $350M in Indonesia’s Traveloka

Expedia is investing about $350 million in Southeast Asia’s biggest local online travel portal, as the U.S. company tries to increase its presence in one of the world’s fastest-growing markets, people familiar with the matter said.

Indonesia-based Traveloka, which operates in six countries in Southeast Asia, is raising a total of over $400 million including Expedia’s investment, in a round that values the startup at more than $2 billion, one of the people said.