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Yanolja travels beyond Seoul for dual IPO listingINTL

Yanolja travels beyond Seoul for dual IPO listing

We’ve definitely taken you on a trip around the world in today’s newsletter — and this next headline’s destination is Seoul!

South Korean travel app Yanolja is about to make some big moves in the industry by targeting a dual IPO listing that might just push its valuation to a whopping $4b. The Seoul-based startup is still eyeing the second listing location, in addition to the domestic one (hashtag shop local).

Yanolja is clearly over this pandemic (aren’t we all?) and ready to hit the ground back running. Yanolja is also about to release its 2020 earnings report this month (and apparently its sales even grew despite Covid-19), which will be crucial to gauge how well the company can potentially do on a foreign exchange.

PS, Traveloka (Southeast Asia’s largest online travel startup) recently announced it would be listing in the US before the end of the year, indicating recovery in the travel sector (well, at least on that side of the world).

why it matters
The uptick in public valuations that tech companies have experienced the past few months, especially in the US, creates the perfect breeding ground for rising starts to really shine. Coupang (also from South Korea), for example, managed to hit a valuation of over $100b after debuting on the NYSE not too long ago.