Another day, another SPAC listing!
Traveloka, Southeast Asia’s largest online travel startup is jumping on the IPO bandwagon through a special purpose acquisition company that is to be listed in the US before the end of the year.
The Indonesian startup was recently forced to cut costs and jobs as the travel industry suffered greatly from coronavirus-related restrictions. According to CEO Ferry Unardi, Traveloka’s travel business is now back to profitability.
Last time that startup was valued back in 2017, it was for a whopping $3b.