Traveloka Said in Talks to List via Thiel’s Bridgetown SPAC

Southeast Asia’s answer to Expedia may be valued at $5 billion
Deal likely to include more than $500 million PIPE fundraising

Inside Traveloka’s office in Jakarta in 2017. Traveloka was last valued at around $2.75 billion, according to people familiar with the matter. — Inside Traveloka’s office in Jakarta in 2017. Traveloka was last valued at around $2.75 billion, according to people familiar with the matter.
Photographer: Graham Crouch/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Yoolim Lee and Manuel Baigorri

April 9, 2021 at 5:41 AM UTC

Updated on

April 9, 2021 at 8:37 AM UTC

This article is for subscribers only.

Indonesia’s Traveloka is in advanced talks to go public through merging with Bridgetown Holdings Ltd., a blank-check firm backed by billionaires Richard Li and Peter Thiel, according to people familiar with the matter.

A deal could value Southeast Asia’s online travel leader at about $5 billion, said the people who asked not to be identified because the matter is private. The potential transaction could also involve raising between $500 million and $750 million through a private investment in public equity, or PIPE, the people said. Details including the amount to be raised could change as the companies start discussions with potential investors, they added.