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, Bloomberg reports, citing people familiar with the matter.
The PIPE would be part of a deal to merge the Jakarta-based online travel startup with Bridgetown Holdings 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.
