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

Investors push online travel agency unicorn to raise cash

Traveloka offers airline and hotel bookings in Indonesia and its neighboring markets like Thailand, Vietnam and the Philippines.    © Reuters

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.

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