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Doris Yu · · 1 min readSources: Traveloka in talks to go public via merger with Richard Li’s SPAC
“Indonesia’s Traveloka is in advanced talks to go public through merging with Bridgetown Holdings, a blank-check firm backed by billionaires Richard Li and Peter Thiel,” reported Bloomberg, citing people familiar with the matter.
Details:
- The deal would bring Traveloka’s valuation to about US$5 billion, sources said.
- The online travel unicorn could also raise between US$500 million and US$750 million through a private investment in public equity.
Context:
- The Jakarta-based company is among several Southeast Asia unicorns that are reportedly seeking to go public via special purpose acquisition companies, including super app Grab.
- Traveloka is backed by Sequoia Capital, East Ventures, and Hillhouse Capital Group, among others.
Editing by Collin Furtado and Jaclyn Tiu
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