BTWN - A Complete And Comprehensive Fundamental Analysis Of Bridgetown Holdings And Traveloka

• Nothing short of a ten-bagger is expected of BTWN. Given Peter Thiel's reputation and track record, investors shouldn't miss investing with Peter Thiel at NAV.
• We showed how BTWN's merger target, Taveloka, fulfills BTWN's Business Combination Criteria according to BTWN's Securities Registration Statement.
• The most notable evidence of Traveloka's future success by merging with BTWN is Peter Thiel's past record of successful investments in industries in which Traveloka operates.
• One aspect that requires our 100% confidence in Peter Thiel is the justification of Traveloka's proposed $5bil valuation. This is because Traveloka's sales and earnings remain undisclosed to the public.
• However, our investment thesis can be anchored on 2 points: (1) BTWN trading near NAV gives investors put-option-like protection, (2) Traveloka's strong recovery following expected economy reopenings and travel boom.

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