Traveloka Reportedly Discussing with New Investors to Win IDR 5.7 T
Traveloka is reportedly in talks with potential investors to raise US$ 400 million or around Rp 5.7 trillion. This is part of a plan to list its initial shares, aka IPO.
“This potential fundraising is part of a planned merger with Bridgetown Holdings,” said a Bloomberg source, quoted by Forbes, Wednesday (4/8). Bridgetown Holdings is a special purpose acquisition company or SPAC backed by billionaires Richard Li and Peter Thiel.
“The merger is set for a combined entity valuation of around US$5 billion,” said a Bloomberg source.
The Indonesian unicorn plans to offer an initial public offering (IPO) on the United States (US) stock exchange this year. Traveloka as an online travel agent (OTA) is also optimistic that it will profit this year and in the future.
Traveloka is also entering the food delivery business such as GoFood, GrabFood, and ShopeeFood through Traveloka Eats. It has been an almost doubled traffic increase on the Traveloka Eats Delivery page since July according to their internal data.
“The implementation of Community Activity Restrictions or emergency PPKM further increases this figure (demand for services),” said Head of Traveloka Eats Stephen Kohar, last week (29/7).
“We can then focus on execution and growing the company if we do it faster,” Ferry said in an interview with Bloomberg journalists, in February (16/2).
This travel company will IPO on Wall Street, USA in the early stage. However, Ferry did not specify which US stock exchange to choose, namely the New York Stock Exchange (NYSE) or the Nasdaq.
Traveloka has also engaged JPMorgan Chase & Co for the IPO process. After the US, the unicorn reviewed the initial public offering on the Indonesia Stock Exchange (IDX).
Wins ‘Best Workplace for Innovators’ Award
Best Workplace for Innovators 2021 awards over 100 Companies from around 1,500 applications received from around the world. One of the award recipients is Traveloka, which is included in the list of Best Workplace for Innovators for the international category.
Traveloka CEO & Co-Founder, Ferry Unardi, said that the award received by the company is an acknowledgment, which shows a great commitment in supporting the creation of innovation at various levels.
“This pandemic has changed the way we run our company’s operations: it challenges us to innovate and try new ideas and respond to changes in consumer trends and behavior that have occurred due to the pandemic,” said Ferry in Jakarta, Thursday (5/8).
Ferry said that the award from Fast Company underscores the innovation culture that Traveloka has built since its inception.
“At Traveloka, we believe in DICE-H (dedication, intellectual honesty, curiosity, empathy, humility) or dedication, intellectual honesty, curiosity, empathy, and humility, which are values that we always uphold and have become. The company’s DNA,” said Ferry.
Has Grown to be a Lifestyle Superapp
Since its establishment nine years ago, Traveloka has grown to become a lifestyle superapp in Southeast Asia.
Apart from offering the most comprehensive portfolio of travel services, the Traveloka product ecosystem also provides various solutions to meet the various lifestyle needs of users.
These solutions range from transportation to accommodation, attractions to culinary delights, various payment options, as well as insurance products and other financial services.
There are nearly 1,500 applications, followed by a panel of eight leading judges to produce a list of the best companies according to Accenture researchers and Editors at Fast Company.
For the first time, Fast Company’s Best Workplace for Innovators this year also awarded Traveloka Campus at North Tower BSD Green Office Park 1, BSD City, South Tangerang City.
Fast Company’s Editor-in-Chief, Stephanie Mehta, said, “The award is given to companies that find ways to collaborate and innovate amid challenges caused by the pandemic, and ensuring employee welfare remains the main focus.”