The Briefing: Traveloka Eyes $5B SPAC Deal, SnackMagic Lands Series A, And More
Summary
Indonesia-based online travel booking platform Traveloka is in advanced talks to go public through a merger with a blank-check acquirer, according to a Bloomberg report citing unnamed sources. The company is reportedly seeking to merge with Bridgetown Holdings Ltd., a SPAC backed by billionaires Richard Li and Peter Thiel. Founded in 2012, Traveloka has raised at least $1.2 billion in known funding, per Crunchbase data. The company markets its offering as a potential work-from-home employee perk, a sales prospecting tool, or a gift. Abzu lands $6M for AI: Abzu, a Danish startup developing AI-based software for use cases including predictions and modeling, raised $6 million in a seed funding round led by Denmark’s Seed Capital and PreSeed Ventures, and Finland’s Inventure.