Indonesian unicorn Traveloka aims for US listing via SPAC

© Traveloka

The online travel aggregator reported revenue drops and layoffs in 2020 but became profitable late last year, led by recoveries in Vietnam and Thailand 

Traveloka has returned to profitability and is planning to list in the US this year using a special purpose acquisition company (SPAC), its top executives told news agencies recently.President Caesar Indra said the company “returned to profitability” in late 2020 on the back of recoveries in Vietnam, where business has “surpassed” pre-Covid-19 levels, and Thailand, where it is almost back to normal. In Indonesia its business is at half pre-Covid levels.  Like many other tourism-related businesses, Traveloka suffered a major blow in 2020 as curbs on intercity movement and border closures l...
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Edited by S. Mani

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