Pegipegi
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
PegiPegi was an Indonesian online travel agency (OTA) founded in 2012, focused on domestic hotel, flight and bus bookings for the Indonesian market. In 2018 it was acquired by travel unicorn Traveloka (via Jet Tech Innovation Ventures) in a $66.8 million deal with Japan's Recruit Holdings that also included Vietnam's MyTour and the Philippines' Travelbook.
02 / Pegipegi FAILURE REASONS
Failure reasons
PegiPegi shut down after 12 years because its business steadily weakened. The pandemic hit OTA growth hard in 2020; the company later lost its CEO Serlina Wijaya and cut back promotion programmes, signs of a fading business. With the travel agency startup's operations no longer sustainable, management announced its closure, taking last orders on December 10, 2023 and officially ceasing operations on December 11, 2023.
03 / EVENT HISTORY
Events in the structured record
- Company founded
PegiPegi is founded in Indonesia as an online travel agency for domestic hotels, flights and buses.
- Acquired by Traveloka
Traveloka acquires PegiPegi in a $66.8 million deal (via Jet Tech Innovation Ventures) with Recruit Holdings, also covering Vietnam's MyTour and the Philippines' Travelbook.
- Pandemic impact
COVID-19 sharply reduces OTA business growth; PegiPegi later recovers part of its business but continues to weaken.
- Closure
PegiPegi announces its closure: last orders on December 10, 2023, and official cessation of operations on December 11, 2023, after almost 12 years.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
PegiPegi's business weakened after the pandemic; its CEO Serlina Wijaya resigned and promotion programmes were cut back.
- 02
Management announced the closure on the company's official website; the platform took its last orders on December 10, 2023 at 23:59 WIB.
- 03
PegiPegi officially ceased operations on December 11, 2023; existing ticket and hotel payments remained valid for check-in and travel.