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DealStreetAsia

Indonesia's Traveloka to suspend merger talks with a SPAC

The unicorn's plan shaken by waning SPAC market

An employee works at Traveloka's headquarters in Jakarta, Indonesia. The company is now likely to go public via a traditional IPO in the U.S., raising up to $400 million.   © Reuters

CEBU, Philippines -- Indonesian unicorn Traveloka has decided not to pursue talks to list in the U.S. through a merger with Bridgetown Holdings, a special purpose acquisition company (SPAC) backed by billionaires Richard Li and Peter Thiel, DealStreetAsia has learnt. The news was first reported by Bloomberg.

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