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Aditya Hadi Pratama · · 1 min readTraveloka to raise $400m for IPO plan with Richard Li-backed blank-check firm
“Indonesia’s Traveloka is in talks with investors to raise as much as US$400 million in private investment in public equity (PIPE) as part of its plan to go public via a Richard Li and Peter Thiel-backed special purpose acquisition company (SPAC),” Bloomberg reported, citing people familiar with the matter.
Details:
- According to the sources, the PIPE amount discussed is between US$200 million to US$400 million, but that could still change.
- The merger with the blank-check company, Bridgetown Holdings, is expected to close as early as this year and will take Traveloka’s valuation to US$5 billion.
Dive deeper:
- In April, Bloomberg reported that Traveloka was looking to raise US$500 million to US$750 million in private investment at the same valuation.
- The online travel company is one of several Southeast Asian startups that are exploring the option to go public via the SPAC route. These startups include firms such as Grab, GoTo Group, FinAccel, and Tiket.com. (Read: The leading Asian tech players eyeing an IPO in 2021)
Editing by Collin Furtado and Arpit Nayak
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