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Indonesia’s Traveloka looks to list in US with SPAC this year

JAKARTA — Traveloka, Indonesia’s answer to Expedia and one of Indonesia’s unicorn startups valued at over $1 billion, is looking to list in the U.S. this year using a special purpose acquisition company or SPAC, its CEO Ferry Unardi said.

Unardi, who is also co-founder of the company, told Bloomberg TV on Tuesday: “This year, we’re ready” for a public listing. The company experienced a difficult 2020, with COVID-19 and travel restrictions hampering its businesses. It laid off around 100 people last April.

But Unardi said Traveloka’s core travel business turned a profit last year despite the coronavirus pandemic. “The market is ready. And we hope [a listing] will happen sooner rather than later,” he said.

Traveloka, Southeast Asia’s…

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