Traveloka in Talks to Raise Up to $400 Million for SPAC Deal
- So-called PIPE injection part of plan to go public this year
- Indonesian travel startup is in talks to list via Thiel’s SPAC
Inside Traveloka’s office in Jakarta in 2017.
Photographer: Graham Couch/BloombergThis article is for subscribers only.
Indonesia’s Traveloka is in talks with potential investors to raise as much as $400 million as part of its plan to go public through merging with a blank-check company backed by billionaires Richard Li and Peter Thiel, according to people familiar with the matter.
The fundraising, a so-called private investment in public equity, would be part of a deal to merge the Jakarta-based online travel startup with Bridgetown Holdings Ltd. as soon as this year, said the people, who asked not to be identified because the matter is private. The merger is set to value the combined entity at about $5 billion, the people said.