Travel booking website Expedia Inc. (EXPE) - Get Report is investing $350 million in Indonesian counterpart Traveloka, according to a report by The Information. 

Traveloka, one of Southeast Asia's biggest travel booking websites, is looking to raise $400 million in its latest funding round with Expedia providing the bulk of the capital. 

Expedia has been very active in Southeast Asia in recent years. The company paid $86.3 million in 2015 to increase its stake in Malaysian budget airline AirAsia to 75%. 

Expedia shares were down 2.1% to $153.64 in afternoon trading Thursday. 

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