Traveloka Taps Brakes on $400 Million SPAC Deal to Go Public

Indonesia’s Traveloka may not go through with a plan to go public by merging with a special purpose acquisition company (or SPAC) after all, according to reports. The fast-growing travel booking startup had been due to list through a deal with Bridgetown Holdings, backed by PayPal co-founder Peter Thiel and Hong Kong investor Richard Li. To do that, it was first planning to raise between $200 million and $400 million from investors, a process known as private investment in public equity (PIPE). However, Bloomb