Google and Tencent returned to reinvest in e-commerce and on-demand services group GoTo as it prepares to go public at a valuation of up to $30bn.

GoTo Group, the Indonesia-based company formed by the merger of e-commerce marketplace Tokopedia and ride hailing service Gojek, has secured over $1.3bn from investors including corporates Google and Tencent, Bloomberg reported today.

Internet and gaming group Tencent and Google – a subsidiary of internet and technology conglomerate Alphabet – were joined by investors including Abu Dhabi Investment Authority, which committed $400m last month, and investment and financial services group Fidelity.

Avanda Investment Management, Permodalan Nasional, Primavera Capital Group, SeaTown…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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