Altimeter, Thiel buy SE Asia companies via SPACs
Singapore company Grab Holdings will go public via a U.S. based SPAC, Altimeter Growth Corp., a blank check company backed by Altimeter Capital.
Grab is a web-based food delivery and ride hailing company, the largest company in that space in southeast Asia. The deal, announced Tuesday, values Grab, coming off a strong financial performance in 2020, at $39.6 billion.
In other news from southeast Asia’s web companies: Traveloka, a Jarkata, Indonesia-based company that operates an online-travel search engine of the same name, is said to be in advanced . . .
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