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Traveloka Looks To Enter Public Markets Via SPAC

Online travel startup Traveloka is aiming to launch a “blank-check” company with a listing in the U.S. this year. Ferry Unardi, the Indonesian company’s CEO, told Bloomberg Television that the plan was to raise funds through that special purpose acquisition company (SPAC).

Using a “SPAC is very efficient,” Unardi said.  “If we can do it faster, we can then focus on execution and growing the company.”

Unardi acknowledged that “last year was difficult, we had to assess our organization, business — we had to make very difficult decisions.” He told Bloomberg that, looking ahead, Traveloka plans to invest more in its new “travel now, pay later” product to attract more travelers. Despite…

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