It's also reported that Traveloka will "Go Public", Open Options via SPAC

Traveloka is the second unicorn startup to be listed on the stock exchange soon. This time they are more open about considering the use of SPAC (Special Purpose Acquisition Company) in the process go public-his. It's not clear who the potential partners are, but this ensures the New York Stock Exchange is a top destination.

As reported Reuters, President of Traveloka, Henry Hendrawan, mentioned the blank check company SPAC as one of the options evaluated by the company. Henry claims his party has been approached by several SPACs for this process.

It said Traveloka was considering an IPO or SPAC option and was looking for a market capitalization of $5-6 billion (70-85 trillion Rupiah). This year Traveloka has received $250 million funding (3,6 trillion Rupiah) from a number of investors. The SPAC option is currently considered to provide processes go public which is easier and faster than an IPO.

As an OTA startup, Traveloka is one of the parties most affected by the pandemic. The company has made staff cuts this year, but they are confident they can get back on track next year with a focus on domestic travel. Not only in Indonesia, Traveloka also operates in 5 other Southeast Asian countries.

Previously, Tokopedia was reported to be exploring the potential go public with SPAC Bridgetown Holdings as one of the partner options. The company confirmed it had appointed Morgan Stanley and Citi as advisors.

Source DailySocial gives a signal that the two processes go public This will be implemented in the near future to provide an opportunity exit for its investors who have supported the company for the last 8-10 years.