Thiel-backed Bridgetown SPAC mulls up to $10b Tokopedia deal

Photo: Tokopedia

Bridgetown Holdings Ltd., the blank-check company backed by billionaires Richard Li and Peter Thiel, is considering a potential merger with Indonesia’s e-commerce giant PT Tokopedia, according to people with knowledge of the matter.

The special purpose acquisition company is exploring the structure and feasibility of a deal with Tokopedia, one of the most valuable startups in the Southeast Asian nation, the people said. The SoftBank Group Corp.-backed firm could be valued at $8 billion to $10 billion in a transaction, said the people, who asked not to be identified as the discussions are private.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter