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Argentina’s Globant Raises $59 Million on NYSE; Second-Ever U.S. IPO for an Endeavor Company

Globant

Argentina’s Globant, founded by Endeavor Entrepreneurs Martin Migoya, Guibert Englebienne, Néstor Nocetti and Martin Umaran, had its U.S. IPO on July 18th, raising nearly $59 million. The Buenos Aires-based software development giant has become one of Endeavor’s top success stories by demonstrating the high-impact potential of entrepreneurs in emerging markets. In addition, as Endeavor Catalyst’s first investment, this IPO marks a major milestone for Endeavor’s innovative co-investment initiative.

Founded in 2003, Globant was envisioned from the start as a business that could generate world-class career opportunities for IT professionals while showcasing Latin American talent. Globant has become one of the fastest growing software solutions companies in Latin America, providing clients worldwide with solutions that are design-minded, scalable and efficient. The entrepreneurs have put Argentina on the radar of the global marketplace for offshore IT services, with a portfolio of clients that include Google, LinkedIn, Sabre and Electronic Arts.

The entrepreneurs were selected into the Endeavor network in 2005 with just 120 employees, and have now grown to employ over 3,000 people across 15 countries with the help of Endeavor’s mentorship, strategic guidance and investor connections. In 2008, Globant acquired Openware, an Argentine tech venture founded by Endeavor Entrepreneur Federico Seineldin, marking the first-ever merger between two Endeavor companies. In the same year, Endeavor helped Globant close its first round of venture capital financing led primarily by U.S.-based investors.

When Endeavor Catalyst was formed in 2012, the donor fund co-invested nearly $2 million in Globant as its inaugural investment. Endeavor Board Member and LinkedIn co-founder Reid Hoffman subsequently joined Globant’s Board of Advisors, cementing the company’s reputation as a world-class technology firm. In addition, Globant’s most recent financing round in 2013 saw a 20% acquisition by multinational advertising company WPP. The returns from the Endeavor Catalyst investment will ultimately go towards supporting Endeavor’s operations as well as the fund’s work with future entrepreneurs.

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Globant’s Nestor Nocetti, Guibert Englebienne, Martin Migoya, and Martin Umaran

With annual revenue growth of over 30% in the past two years, including total revenues of $158 million last year, the IPO highlights Globant’s upward trajectory as the global demand for solutions in mobile, social, big data and cloud computing skyrockets. Globant’s success has demonstrated the importance of supporting entrepreneurs by creating an ecosystem of inspiration, mentorship and investment.

Since joining the network, the Globant team has been highly engaged with Endeavor’s work in Latin America and globally, serving as mentors, ISP panelists and donors. The founders have also attended and spoken at a number of Endeavor-hosted events, including both regional and global galas, retreats and summits. Martín and Guibert also serve as board members in Argentina, with Guibert recently named chairman of the local board. The story of the Globant founders is a testament to Endeavor’s model and the multiplier effect of entrepreneurship as the team becomes role models and investors for future generations of ventures.

“The trust that Endeavor puts in Globant was first shown in 2005 when they selected us as Endeavor Entrepreneurs. That was a key milestone in our history, since they enabled us to learn from some of the most talented and experienced professionals in the world,” said CEO Martín Migoya in a statement. “Endeavor reinforces a great partnership that will help us to take our company to the next level, creating more jobs for talent across the world, more opportunities for our ‘Globers’, and delivering the best software products for our customers.”

Globant is the second Endeavor Entrepreneur company to have an IPO in the U.S.  MercadoLibre, founded by Marcos GalperinNicolas Szekasy and Hernan Kazah, was also an Argentine venture that successfully went public in 2007 on the NASDAQ market.

Learn more about the IPO news in the company’s press release by clicking here.

Greece’s Kerstin Trikalitis, Co-Founder of Out There Media, Joins Jury at the 2014 Cannes Lions Festival

cannes lionsEndeavor Entrepreneur Kerstin Trikalitis, co-founder of Greece’s Out There Media, was recently named to the jury in the “Mobile” category at the 2014 Cannes Lions Festival, a premiere international awards event for professionals in the creative communications industry. Often considered the largest worldwide gathering of designers, digital innovators and marketers, the festival recognizes the best in creativity and innovation in global media. Kerstin’s honor demonstrates a growing interest in the potential of high-impact entrepreneurs in emerging markets like Greece.

As part of the Mobile Lions jury, Kerstin worked with 14 global judges representing top names in branding and media to review over 1,000 entries in the category. The submissions encompassed creative works  activated by a mobile device, app or mobile web and were judged based on creativity, execution, relevance and results. Now into its 61st year, the Cannes Festival convened over 12,000 delegates from more than 90 countries to network and celebrate the best in brand communications. The week-long agenda consisted of 60+ world-class seminars which put 500+ speakers on the global stage, as well as more intimate and targeted learning through forums and workshops. This year, over 37,000 entries from 97 countries competed for awards.

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The Mobile Lions Jury in Cannes

Being honored as a jury member demonstrates Kerstin and her team’s success as emerging market entrepreneurs. When she founded OTM with fellow Endeavor Entrepreneur Daphne Loukas in 2007, the pair anticipated the boom in mobile advertising in regions that depend on non-traditional devices for digital connectivity. With offices across Europe, Asia and North America, OTM works with brands and advertisers, SMEs and e-commerce companies to enable them to maximize awareness and loyalty among their consumers through innovate mobile and digital campaigns. The company has formed partnership agreements with over 40 mobile carriers across Europe and Asia, reaching approximately 500 million subscribers via its multi-channel advertising marketplace called Mobucks. Since their selection into the network in 2013, the OTM team has worked with Endeavor to gain insights on fundraising and have participated in a number of Endeavor Investor Network events.

“It has been an amazing experience to be part of the Mobile Jury for Cannes Lions this year as one of the 15 jurors from across the globe! We have seen the most ground-breaking work that the world has to offer in ‘Mobile’ up to this day,” said Kerstin. “I am very honored to have been part of the experience and am convinced that Mobile will become an ever more integral part of any brand communications strategy in the years to come. Lastly, I encourage all of us Endeavor Entrepreneurs that work in advertising technologies to submit our best practices for Cannes Lions 2015!”

 

Uruguay’s PedidosYa Acquired By Delivery Hero, Expands Network to 20 Countries

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Uruguay’s PedidosYa, an online solution for food delivery in Latin America, recently announced a majority acquisition by Germany-based Delivery Hero. Founded by Endeavor Entrepreneurs Ariel Burschtin, Álvaro García, and Ruben Sosenke in 2009, PedidosYa currently operates a network of 12,000 partner restaurants within nine countries in Latin America, with plans to launch in three more countries. The acquisition highlights the importance of e-commerce platforms in the region’s consumer service industry as well as a growing global interest in Latin American markets.

Predicting the rise of e-commerce services and noting the absence of food delivery solutions in the region, the trio launched their app in their native Montevideo, Uruguay with the hopes of creating an innovate  service platform for Latin Americans. Restaurants, enticed by the company’s streamlined order processing and new sales channel, rapidly signed up  for PedidosYa. The company has now grown to 150 employees across Argentina, Brazil, Chile, Colombia, México, Perú, Puerto Rico, Uruguay, and Venezuela. The app has reported over two million downloads and receives nearly 200,000 orders per month.

Looking to gain a foothold in the region’s markets, Delivery Hero bought out existing investors in PedidosYa, backed by a recent round of funding led by Luxor Capital Group. A global leader in online food ordering with more than 60,000 partner restaurants worldwide, Delivery Hero currently operates in 12 countries across Europe and Asia with over 800 employees. For less than a year, the two companies have operated in a confidential partnership, a cooperation which has proven beneficial, more than doubling PedidosYa’s volume of orders. PedidosYa will remain an independent brand, and the acquisition is expected to increase Delivery Hero’s representation to 20 countries spanning four continents.

Latin American companies mostly limit themselves to their national markets. We belong to a new generation of entrepreneurs who focus on international expansion,” said Ariel in a statement. “In this sense we fit perfectly to Delivery Hero and are pleased to be part of the global leader.”

Since their selection at the 41st Endeavor ISP, Ariel, Alvaro and Ruben have received strategic mentorship support from Endeavor. The team has also participated in Endeavor’s eMBA program and in Endeavor Investor Network events.

Read the full press release of the announcement here.

Argentina’s Onapsis Raises Nearly $10 Million; Endeavor Catalyst Participates in Funding Round

OnapsisOnapsis Inc., founded by Endeavor Entrepreneurs Mariano Nuñez Di Croce and Victor Montero, recently announced that it has secured a $9.58 million Series B financing round led by Boston-based VC firm .406 Ventures and supported by Endeavor Catalyst and existing investors. A leading business security solutions provider to technology firms like SAP and Oracle, Onapsis plans to leverage the funds to enhance its product offerings, promote international sales and adapt to growing client demand.

Founded in Buenos Aires and now headquartered in Cambridge, MA, Onapsis offers protection for business-critical applications that manage highly-sensitive information ranging from supply chain logistics to business intelligence. Over 100 global brands and government organizations leverage Onapsis’ products to protect against espionage, sabotage, and financial fraud attacks and to streamline compliance with regulatory requirements. The new round will also allow the company to develop its research and engineering teams as it looks to advance operations across Europe and Latin America. Onapsis previously raised $3 million in funding and currently employs over 50 people.

Since joining the Endeavor network in 2011, Mariano and Victor have received tailored mentorship and strategic advising through Endeavor’s global network. In addition, the team has made a number of investor connections with the help of the Endeavor Investor Network while regularly participating in global tours and conferences.

“We are delighted to count on the support of Endeavor and our existing investors, which have been instrumental in helping us scale our business to support the fast-growing demand for our security solutions,” said Mariano in a statement.

Read the press release here and see media coverage of the news in VentureBeat.

About Endeavor Catalyst

Endeavor-Catalyst-LogoEndeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes a stronger interest in emerging market investment opportunities. Launched in 2012, Endeavor Catalyst has made 14 investments to date spanning five markets (Argentina, Brazil, Chile, Mexico and Turkey).

For more information on the fund’s activities, please contact Endeavor Catalyst Managing Director Allen Taylor at allen.taylor@endeavor.org.

Endeavor Uruguay Spotlights Entrepreneur’s Multiplier Effect, Featured in El País

EndeavorUruguayEndeavor Uruguay recently published a map of Endeavor’s Multiplier Effect in the country, highlighting the local entrepreneurship ecosystem and the contributions of Endeavor Entrepreneurs. Published as part of Uruguay’s 2013 Impact Report, the map focuses on the impact of Endeavor Entrepreneur Gabriel Colla, founder of IT services firm Infocorpand the employees, investments, and ventures he has inspired throughout Uruguay. Endeavor has also mapped the Multiplier Effect in affiliate countries including Argentina, Colombia, Turkey, and Chile.

Top Uruguayan newspaper El Pais interviewed Gabriel as a result of the map, spotlighting his work as an Endeavor Entrepreneur and mentor. His Multiplier Effect  the companies, entrepreneurs, partners and employees he and Infocorp have influenced over the years  reaches over 30 of the region’s top tech and startup ventures, with many outside of the Endeavor network. In the article, Gabriel discusses the mutually beneficial relationships between mentors and entrepreneurs that encourage collaboration, knowledge-sharing and community building in ecosystems that need it the most. Read the full article in Spanish by clicking here.

Since his selection as an Endeavor Entrepreneur in 2002, Gabriel has become an Endeavor success story, leveraging the mentorship and advisory services provided to him to grow Infocorp from a small software training company into a global technology solutions firm with clients in over a dozen countries. As an active Endeavor mentor, Gabriel now provides guidance and recommendations to potential entrepreneurs in the pipeline.

View Gabriel’s Multiplier Effect in the 2013 Endeavor Uruguay Impact Report below, or by clicking here.

Indonesia’s Kebab Turki Baba Rafi Expands to Brunei and Singapore

logo_Kebab-TurkiKebab Turki Baba Rafifounded by Endeavor Entrepreneur Hendy Setiono, recently announced that it has expanded its chain of fast food outlets to Brunei and Singapore. As part of a global expansion effort to enter 10 new countries by the end of the year, this announcement demonstrates a critical step towards achieving that goal. The steady success of Baba Rafi illustrates the impact that scaleup entrepreneurs can have on regional economies and job growth given access to the right mix of mentorship and professional development opportunities. 

Having reached a cooperation agreement with five other countries including Malaysia, the Philippines, the Netherlands, China and Sri Lanka, the opportunities in Brunei and Singapore cement the chain’s international reach. As two of the key markets in Southeast Asia, the strategic positions and economic impact of these countries ensures that Baba Rafi is well on its way to becoming a globally recognized brand.

What began in 2003 as a street cart operated by Hendy, Baba Rafi is now one of the world’s largest kebab food chains with more than 1,100 franchised or company-owned outlets. The “Baba Rafi Academy”, an educational platform for employees, was also started as a means to inspire social and environmental responsibility in future generations of business leaders. Since joining the Endeavor network in 2013, Hendy has received strategic mentoring from a local board of  advisors along with ongoing support from the team at Endeavor Indonesia. In addition, Hendy’s high-impact success has allowed him the opportunity to become an Endeavor mentor for potential entrepreneurs looking to join the network.

Read more about the announcement from Endeavor Indonesia by clicking here

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Hendy Setiono during a panel interview at the 51st ISP

Mexico’s Naranya Labs Partners with NXTP Labs to Form New Latin America-Focused Seed Fund

naranyaMexico-based seed fund and accelerator Naranya Labs, founded by Endeavor Entrepreneur Arturo Galvan, recently announced a partnership with accelerator NXTP Labs to form a new early-stage capital fund that will invest at least $8 million in Mexico’s startup ecosystem. Both firms are aiming to broaden their reach across Latin America and this new fund, supported by a grant from Mexico’s National Entrepreneur Institute, serves as a critical step. The $8 million is expected to be used to invest in 48 startups in the country while also covering follow-on investments over a period of four years. Currently, the fund’s portfolio includes more than 150 companies and aims to support up to 300 startups across the region.

With a $50 million investment target,  the fund’s fundraising stage is expected to be completed by the end of 2014. The collaboration will also ensure that the firms will have full coverage in key Latin American markets including Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.

“The support of the Mexican government is essential to promote the talent of innovative Mexican startups throughout the region. It sets an example to be followed by other countries in Latin America,” said Arturo in a statement.

Since his selection by Endeavor in 2011, Arturo and his team have been active members of the network. Arturo has served as both an ISP panelist and recommended potential entrepreneurs into the Endeavor pipeline. In addition, Naranya has participated in top Investor Network events and received custom advisory sessions with global mentors.

Read more about the partnership announcement in NXTP Labs’ press release, The Next Web, and The Miami Herald.

Endeavor and Entrepreneurs’ Organization Collaborate to Further Support for Entrepreneurs Worldwide

EO_primary_CMYKEndeavor President Fernando Fabre and Entrepreneurs’ Organization’s (EO) SVP of Global Membership Brian Costanzo recently announced that the two organizations are teaming up to advance their support of high-impact entrepreneurs around the world. EO is a global non-profit business network that aims to “engage leading entrepreneurs to learn and grow”  with more than 120 chapters across 41  countries. Offering everything from educational programming to healthcare services, the membership-based organization helps entrepreneurs thrive by providing access to a number of resources focused on personal growth.

As EO expands its chapters and network, Endeavor plans to work with the organization to uncover areas for mutual growth and mission alignment in order to advance entrepreneurship ecosystems in the markets that need it the most. Endeavor’s country affiliates and EO’s chapters have already begun working together to support entrepreneurial development in nations like Mexico, Greece, Brazil, Saudi Arabia and the UAE. EO’s reach will provide valuable insight to Endeavor as it aims to expand to 25 countries by 2015.

Endeavor Entrepreneurs also expressed their support for the collaboration.

“Endeavor has helped me think big in terms of my business; EO has helped me understand that one has to be okay with oneself in order to grow a business,” said Arturo Merino of financial services firm Arccanto. “Endeavor and EO together are an explosive combination.”

“Working with both organizations has helped me enjoy growing with a wonderful and unbeatable network,” echoed Hugo Hernández Basulto, founder of Mexico-based manufacturer Lindes.

Learn more about EO by clicking here.

Colombian Entrepreneur Alex Torrenegra Highlights Endeavor and Bogotá’s Tech Sector in The Wall Street Journal

wall-street-journal-logo1Bunny Inc. co-founder and Endeavor Entrepreneur Alex Torrenegra recently authored an article for The Wall Street Journal’s Accelerators, a blog that features expert advice from successful entrepreneurs on business strategy and development. In his piece, Alex spotlights the emerging tech sector in Bogotá and offers takeaways from his experiences as one of the country’s top serial entrepreneurs.

In the post, Alex discusses the desire of many startups in emerging markets to imitate the Silicon Valley model, focusing too much on raising capital and making big exits. That desire, however, doesn’t translate to ecosystems like Bogotá that are still trying to navigate regional challenges. Alex points to research from Endeavor on the city’s tech sector that shows that, while there are hundreds of entrepreneurs, investors and tech VCs in the region, there lacks an active ecosystem of companies that are making acquisitions. Emerging market entrepreneurs are often told to think too global to quickly, focusing more on gaining investors than improving their actual offerings and customer base. The key, he argues, is to stop trying to copy Silicon Valley’s established model that only works in a leading ecosystem like the U.S., and instead focus on crafting programs and policies that are tailored to the local market.

Since joining the Endeavor network in 2013 at the 50th ISP in Palo Alto, Alex and his Bunny Inc. co-founder Tania Zapata have demonstrated their potential for high-impact growth, accelerating the expansion of their voice casting software offering with the guidance of Endeavor’s expert network of mentors and advisors. The entrepreneurs have also been active in a number of Endeavor events, including the 2013 Entrepreneur Summit and networking tours.

Read the full article in The Wall Street Journal by clicking here.

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Alex and Tania at the 50th ISP in Palo Alto

Mexico’s Intellego and Chile’s Agrotop Named World Economic Forum Global Growth Companies in Latin America

World-Economic-ForumMexico-based Intellego, founded by Endeavor Entrepreneurs Felipe Labbe and Eduardo Graniello, and Agrotop, founded by Endeavor Entrepreneur Karina von Baer, was recently named by the World Economic Forum as Global Growth Companies (GGC) of 2014, which highlights 16 of the region’s most innovative and high-impact companies. With growth rates above their industry averages, GGCs are ventures with the potential to become economic leaders based on their business models, growth records, and leadership in the markets they serve. The Forum’s GGC community has now grown to over 360 companies representing more than 65 countries.

After realizing that Mexican businesses needed a better way of storing large amounts of information without relying on external databases, Felipe and Vicente founded Intellego to offer solutions for information, processes, and IT management for medium and large clients. The company’s model delivers affordable solutions that utilize clients existing technology infrastructure, expanding its service offerings across a range of sectors including management consulting, supply chain management, IT outsourcing and more. With over a thousand professionals in its network, Intellego operates in six countries in Latin America and has also expanded operations into the U.S.

Since joining the Endeavor network in 2010, the entrepreneurs have sought strategic advice from Endeavor’s network of mentors on the company’s international expansion strategy and talent recruitment goals. Felipe and Vicente have also become active panelists, attended the 2013 Endeavor Gala and Summit, and are active in sourcing future entrepreneurs into the Endeavor pipeline.

With roots as a family business stretching back to the 1960s, Agrotop is a Chilean holding company with a focus on generating advanced agricultural solutions based on an innovative business model that provides technical assistance to farmers and industry professionals.  With business units ranging from Oleotop, which processes canola oil, to Granotop, which processes grains, the company has set a rare example of high-growth entrepreneurship in Chile. With a rapidly expanding agriculture industry, some of Chile’s poorest regions have found revival in their local economies with the support of Agrotop’s various businesses.

Since joining Endeavor in 2006, Karina has participated in various network events, including Endeavor Galas, strategic mentoring sessions and advisory sessions.

Read more about this year’s GGCs of Latin America by clicking here.

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