Southeast Asia’s largest travel app Traveloka aims to go public

JAKARTA (CNA) – Traveloka, Southeast Asia’s largest online travel app, said yesterday it “was looking to go public soon” and was evaluating a merger with a special purpose acquisition company (SPAC) as a possible option.

“A SPAC is one of the options we are evaluating given we have been approached by a few SPACs,” Traveloka President Henry Hendrawan said in a statement.

The eight-year-old Indonesian startup, which claims over 60 million downloads and has expanded into financial services, announced in July it raised USD250 million in its latest round.

Hendrawan said in an interview last year Traveloka would consider a dual listing at home and in another centre such as the United States.