Wednesday, September 26, 2018

Focus on Latin America Colombian real Rappi takes more than $1 bi

Formerly, in Latin America, one of the features of traditional commerce was trust between storekeeper and buyer – when transactions cut papers and were closed at the base of the "wire moustache". Founded in 2015, the Colombian Rappi, who tries to startup modernize the small day to day shopping, chose the mustache as your symbol to create an identity with the latino consumer. Earlier this month, three years after your Foundation, the company became the youngest Unicorn in the region, as are called the startups that are worth more than $1 billion. With that, she follows in the footsteps of 99, Nubank and Brazilian Paypal, who have attained the feat in the first half. Owner of an application for which it is possible to ask for supplies of almost anything – from groceries to restaurants meals prepared through condoms and beer in the middle of the night, the Rappi has in Brazil a vital part of your strategy. According to the company, a considerable slice of the $ $220 million received in your last round of investments made by funds as DST Global, Sequoia and Andreessen Horowitz, will be invested in the country. The contribution was what made the company become a Unicorn. The country also walks, says the Rappi, to be your biggest market by number of requests. Today, the Colombian has around your highest growth rate-30% high month-to-month, against 22% month to month on global average. For now, the 3.6 million of users of the company, 800,000 are in Brazil, divided in 10 cities. By the end of the year, says Simon Borrero, Executive Chairman of startup, will be 15. And he dreams aloud: "our plan for the future is that the Rappi is in every city that has more than 100,000 people in Brazil," he says. According to him, cities like São Paulo are perfect for your company. "Here, people have very little time. When making a delivery, we're not taking burgers to people, "he says. "We're giving them more time in their lives." To Borrero, there are two reasons for the startup have achieved success over here. One was, since its early days in Bogota, have heard the requests of users — a blank box within the application, in which it was possible to request that the delivery guys startup seek anything, served as an indicator for which services the company should pay attention. The other, even more important, was understand who needed to sell as a company. Union. "Today, I see investors who only think in Brazil or in Argentina. It divides attention, "said Borrero. "If we can build companies that operate throughout the region, the Silicon Valley Fund will be interested more for us," says the entrepreneur, listing statistics. Among them, the fact that the region's GDP sum $ $5.9 trillion, according to data from the World Bank – twice as India, even with half of the population of the Asian country. Become a business known throughout Latin America is not something exactly unheard of, but it's hard to be done. The best example comes from Argentina: is the Free Market, which became a synonym for e-commerce in the region and today is valued at $ $14 billion. For that, however, the company put your feet here, where do you get your major revenue-in the second quarter of this year, for example, 58.3% of the revenue from argentina came out of Brazil. Look for the Brazilian market is something natural for Latin American companies – the opposite of the Brazilian route expand to other countries, is something less common. There are reasons for that to happen. "Startups that are born in countries such as Colombia or Argentina if internacionalizam faster because their markets are smaller," says the Colombian David Velez, co-founder of Nubank. Immigration. With 4 million customers to your credit card in the country, Velez is an example of another type of "local integration": the latino entrepreneur who is already your business in Brazil, an eye on the size of our market. Is the case of the Argentine Guille Freire, Trocafone. Founded here in 2013, the startup buys and sells used smartphones, in partnerships with major companies such as Samsung, Jiddah and Pernambucanas. This year, plans to sell more than 500,000 devices in the country, in your site and in 3000 points of sale of the partners. "When I wanted to open a startup, I wanted to do something big. This would not be possible in Argentina: there, the business would not have the scale that we wanted, "says Freire. According to him, the Latin integration, however, is not always so easy. "Despite the economic similarities, there are differences in culture and in legislation that get in the way," he says. "The Argentinians are more direct than the Brazilians. Sometimes, this can complicate the way of doing business. " For Mauritius Bakshi, incentive platform StartSe startups, the presence of Latino entrepreneurs in Brazil is positive. "It makes the environment more competitive." According to him, the Brazilians take longer to expand internationally because the country has a "ceiling". "The startup should only gain scale after that entrepreneurs learn a lot about him and much to learn here." David Velez, Nubank, go on the same line. "The Brazilian entrepreneur to look prematurely the Latin American market, could end up diverting your focus," he says. Maybe he is the best example of this: Although recognize that the opportunity of Nubank "goes beyond Brazil", he says he doesn't want to divert your focus in the country for now.
O Estaado de S. Paulo - 26/09/2018 News Item translated automatically
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