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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.

New Endeavor Insight Report Analyzes the Source of Silicon Valley’s Development

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Endeavor Insight, supported by Omidyar Network, has released a new report that analyzes the development of the world’s most well-known entrepreneurship hub. The report, entitled “How Did Silicon Valley Become Silicon Valley?“, includes new data that is being shared publicly for the first time.

The story of the Valley’s early years can provide lessons to leaders in cities and regions across the world. It illustrates the impact that successful entrepreneurs can generate in their communities if they foster spinout firms, mentor other founders, and act as early-stage investors. More information on the lessons that other cities can use, and on the region’s growth and impact, can be found in the full report.

To download a PDF version of the report, click here. The report can also be viewed online using ISSUU below.

Endeavor CEO Linda Rottenberg Featured On Fox Business’ After The Bell

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Fox Business’ After The Bell recently interviewed Endeavor CEO and co-founder Linda Rottenberg, highlighting the work of the organization and its impact in emerging markets. In the interview, Rottenberg discusses Endeavor’s mission to help entrepreneurs break through barriers to success by creating networks of support in the markets that need it the most.

Watch the full interview by clicking here or below.

Overcoming the barriers to entrepreneurship

Endeavor Entrepreneur Companies Featured in The Economist Ranking of Top Internet Companies

The_Economist_LogoThe Economist recently charted the top three internet and technology companies in 50 countries based on data from the World Startup Report. The ranking demonstrates the number of emerging markets with growing tech scenes that are succeeding outside of the U.S. Six Endeavor Entrepreneur companies were featured in the chart as well as ventures founded by Endeavor Board Members, illustrating the global impact of the organization’s network. 

The ranking includes South Africa’s Yola (founded by Vinny Lingham), Argentina’s MercadoLibre (founded by Nicolas Szekasy, Hernán Kazah and Marcos Galperin), Turkey’s Yemeksepeti (founded by Melih ÖdemişNevzat Aydın, and Cem Nufusi), Colombia’s Bunny Inc. (founded by Alex Torrenegra and Tania Zapata) and PayU LatAm (founded by Martin Schrimpff and José Fernando Vélez)  and Chile’s Clandescuento (founded by Felipe Henríquez, Oskar Hjertonsson and Daniel Undurraga).

View the complete graphic by clicking here.

Endeavor Expands Presence in Europe with the Launch of Endeavor Spain

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Madrid, Spain – July 14, 2014 – Earlier this year, Endeavor announced that it has expanded its European presence with the launch of Endeavor Spain, marking the organization’s second affiliate in Europe.  Supported by some of Spain’s most influential entrepreneurs and business leaders, Endeavor’s launch has the potential to transform the Spanish economy and create much-needed jobs in a nation unsettled by rising unemployment. Endeavor first expanded in the region in 2012 with the formation of Endeavor Greece.

Between 2008 and 2013, Spain’s GDP saw minimal or negative growth year-over-year according to data from the The World Bank. Youth unemployment rates reached nearly 56% in 2013, making it the second most challenging economy for new graduates in the European Union, after Greece. With an increasing number of young people entering the workforce with few traditional job prospects, entrepreneurship has been on the rise  an estimated half of Spain’s entrepreneurs are currently between the ages of 18 and 34. Spurred in part by necessity, the rate of new startups in the region has increased over 8% and registrations of self-employed individuals increased by over 20,000 in the beginning of 2013. At the same time, however, only 5% of these startup companies reported employing 10 or more people, demonstrating the lack of proper resources and support for entrepreneurial growth. This is where Endeavor sees the potential for its model to transform the economy and foster an ecosystem of entrepreneurs whose businesses are able to move beyond the startup stage to become high-impact, pioneering ventures.

Given access to the right mix of mentors, business networks, capital and strategic advice, Endeavor Entrepreneurs have the potential to attract top talent and investments to the regions that need it the most.  With a favorable environment for entrepreneurial growth, Spain has the necessary infrastructure to build a support network for businesses that can not only boost the economy, but also create a key market for jobs. In addition, an ecosystem of successful entrepreneurs will serve as vital role models and investors for future generations, creating a solid foundation for economic recovery and empowerment for years to come.

“We are excited to help unlock the potential of Spain’s growing pool of entrepreneurs,” said Endeavor co-founder and CEO Linda Rottenberg. “We know from our work in Greece and other challenged markets that entrepreneurship thrives in down economies, and Spain right now is primed for a major boom.”

Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues. Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that can catapult them to success.

In the past 16 years Endeavor has selected 917 entrepreneurs from over 20 countries around the world in Latin America, Africa, Europe, the Middle East, and Southeast Asia. In 2012, these entrepreneurs generated US $6.0BN in revenue and had created 250,000 jobs.

All of Endeavor’s global affiliates are spearheaded by a local board of business leaders, each of whom believes strongly in the ability of high-impact entrepreneurship to transform economies. The Endeavor Spain founding board includes: Jaime Carvajal Urquijo, Special Partner & former Managing Director of Advent International; Jose Maria Alvarez Pallete, CEO & COO of Telefonica S.A.; Angel Cano Fernandez, President of BBVA; Sabina Fluxà, Executive Vice President & CEO of Grupo Iberostar; Javier Monzon, Chairman & CEO of Indra; Javier Perez Dolset, Chairman & CEO of Zed; and Francisco José Riberas Mera, Chairman & CEO of Corporacion Gestamp.  Alvaro Lopez-Jorrin, Corporate Law Partner of Garrigues, will serve as secretary of the board.

The Board of Endeavor Spain truly looks forward to being able to make a significant and lasting impact in the creation of a consolidated entrepreneurial ecosystem in Spain,” said Board Chairman Jaime Carvajal.

The board has selected Adrian Garcia-Aranyos as Managing Director to oversee the successful launch of Endeavor Spain. Mr. Garcia-Aranyos served previously as Vice President of Media Relations for Latin America at J.P. Morgan Chase and as the Americas Marketing Director and Latin America co-head for The Economist Group. As MD of Endeavor Spain, he will lead the day-to-day operations of the office in Madrid and will be involved in screening local entrepreneurs for selection into the network.

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!”

 

Endeavor CEO Linda Rottenberg Discusses Her Entrepreneurial Journey in Business Insider

BusinessInsiderEndeavor CEO Linda Rottenberg was recently interviewed by OneWire‘s Skiddy von Stade about the Endeavor story and her own entrepreneurial path. The interview was featured in Business Insider, highlighting Linda’s journey from law school to Latin America and, ultimately, to co-founding the world’s leading supporter of high-impact entrepreneurs in growing economies.

Watch the two-part interview by clicking here and here, or below.

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.

Endeavor eMERGE California Event Spotlights Growing Tech Markets Worldwide

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From June 17th – 19th, Endeavor held its inaugural eMERGE California event, sponsored by Gigaom, Zynga and Co.Lab, which brought together top entrepreneurs, investors and mentors to highlight fast-growing tech markets outside of Silicon Valley. As part of the event, an Endeavor Investor Network session sponsored by Greenberg Traurig convened Endeavor Entrepreneurs and representatives from premiere venture capital firms in an afternoon of  networking and discussion around emerging markets. In addition, Endeavor partner Barclays held a special advisory session for one of the entrepreneurs in attendance.

“Endeavor Entrepreneurs are frequently the forces leading or disrupting their regional tech markets. With Endeavor’s presence in twenty countries, it’s in a unique position to showcase the potential of these markets side-by-side via the individuals who are shaping them,” said Shaun Young, Endeavor’s Director of Network & Business Development and head of Endeavor eMERGE California.

Over the course of the three days, some of Endeavor’s most promising tech entrepreneurs represented their markets and countries in front of a number of Silicon Valley’s key business leaders.  The event opened with a mentorship breakfast with top investor Dixon Doll, co-founder of venture capital firm DCM, who addressed  strategies for supporting tech ecosystems in non-traditional markets. Entrepreneurs then had the opportunity to meet with Joanna Rees, Endeavor Global Board Member and Managing Director of Endeavor Catalyst,  as well as the staff of Endeavor California to discuss approaches to raising capital in Silicon Valley as international entrepreneurs.

Three Endeavor Entrepreneurs were featured as speakers throughout Endeavor eMERGE California, including Brazil’s Antonio Carlos Soares of RunRun.it,  Argentina’s Germán Dyzenchauz of GoIntegro, and Lebanon’s Rabih Nassar of Apstrata. With expertise in cloud-focused technologies, these entrepreneurs contributed widely to the week’s events, addressing participants in sessions with the Endeavor Investor Network and members of Endeavor’s California network, including executives from the Omidyar Network, Dropbox, Silicon Valley Bank, Zendesk, SurveyMonkey and the SF Mayor’s Office. In addition, the entrepreneurs participated in a panel moderated by Endeavor President Fernando Fabre during the Gigaom Structure conference, a premiere cloud-focused technology event. Additional  Endeavor Entrepreneurs in attendance at eMERGE California included Chile’s Pablo Godoy of Inzpiral, Argentina’s Sally Buberman and Ignacio Lopez of Wormhole, and Mexico’s Guillermo Casares Gonzalez of Mexis.

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Gigaom Structure panel moderated by Endeavor President Fernando Fabre

The Endeavor Investor Network session on June 17th featured participation from leading U.S. venture capital firms, including Accel Partners, General Atlantic, Lumia Capital, Omidyar Network, Ribbit Capital and Rise Capital, who met with a selection of Endeavor’s top companies representing Argentina, Brazil, Chile, Jordan, Lebanon, Mexico and Miami. The afternoon kicked off with an hour-long conversation with the three eMERGE speakers, who provided insights on the market opportunities that growing tech economies offer cloud-based companies and potential partners. The entrepreneurs and investors then participated in formal rounds of speed-networking, where 24 investors and companies from Endeavor’s portfolio met over coffee, company narratives and presentations, culminating in 100+ formal networking connections over the course of the afternoon. Following the formal networking, participants continued with an informal reception themed around the World Cup.

Additional highlights from the week included a private dinner hosted by Endeavor Catalyst Managing Director Joanna Rees in honor of the Endeavor Entrepreneur participants of eMERGE California. Also, following one of their talks, Antonio Carlos, Germán and Rabih were invited to Dropbox  to meet with members of the company’s corporate development, sales and international teams to discuss regional trends in mobile, cloud and payments. Finally, the event wrapped up with a special advisory session with Endeavor partner Barclays. The meeting convened senior Barclays executives to help provide guidance to Mexican Endeavor Entrepreneur Guillermo Casares Gonzalez on his company’s approach to fundraising and expansion.

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Investors and entrepreneurs connecting at the Endeavor Investor Network session

“[Endeavor eMERGE California] was a great opportunity to showcase my company, meet lots of interesting new people and get to know Endeavor better. It was truly a pleasure and an honor to participate, ” said Antonio Carlos.  “It is great to be a part of Endeavor and to share my dream.”

Endeavor eMERGE California will feature more of Endeavor’s best international tech markets,  focusing on topics such as mobile, payments and the sharing economy, and continue to spotlight the entrepreneurs at the forefront of these areas. The participating entrepreneurs in this event represent a range of cloud-based services and solutions. Learn more about their companies below:

 runrunAntonio Carlos Soares joined the Endeavor network in 2010 as part of Brazil’s Aorta, a software company that serves major clients by helping them harness new technologies through customized IT applications. Antonio is currently the co-founder of RunRun.it, a cloud-based team management platform. The product helps managers of mainstream companies enhance team productivity by providing dashboard reports and tools for improving workflow assurance, task management and employee performance evaluation in a simplified format.

GoIntegroFounded by Germán Dyzenchauz and Gaston Lejtman in 2002, Argentina’s GoIntegro is a leading SaaS social engagement platform for companies in Latin America, offering a suite of software applications to manage internal communications, corporate benefits, recognition programs and incentives. With offices across the region, the company boasts more than 300 corporate clients and reaches upwards of one million daily users with revenue growth of 30% in 2013.

apstrataLebanon’s Rabih Nassar worked in development in the enterprise software space for years with Element^n, ultimately turning its product legacy into Apstrata, a highly scalable, cloud-based solution for back-end infrastructure. Apstrata packages the fundamental server-side building block components necessary for HTML5 and mobile application development, saving mobile developers both time and money.

inzpiralChile’s Inzpiral is a BI software solution company consisting of three product platforms, each compiling, consolidating and analyzing large data sets for the optimization of pricing and distribution strategies. Founded by Pablo Godoy in 2011, Inzpiral’s solutions primarily apply to the Retail and CPG market, but is expanding to serve the mining and telecommunications sectors as well.

Wormhole-IT-Formación-con-tecnología-Live-learningArgentina’s Sally Buberman, Ignacio Lopez, and Maximiliano Menasches have focused their efforts on creating an affordable, high-quality solution to allow people in emerging markets to work, learn, and communicate over the Internet. With Wormhole IT’s products, which are typically 90% cheaper than competing products, the team’s solutions have already been successfully exported to and localized for over ten countries and are actively used by over 60,000 users.

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Guillermo Casares González took a business ridden with accounting irregularities and a broken ISP model and reoriented it as a Management Risk Service Provider. Based in Mexico City, his company Mexis integrates managed services in network infrastructure, security and applications with the concept of “Security 360°”. Today, Mexis is a leader in the industry and operates under its own proprietary technology.

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.

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