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Bebê Store, a leading online baby goods retailer in Brazil co-founded by Endeavor Entrepreneur Leonardo Simão, recently announced the acquisition of Baby.com.br, one of its main competitors in the region. In addition, the company successfully raised a $12.3 million round of financing earlier this year led by venture capital firms Atomico and W7, with participation from Endeavor Catalyst.
Founded in 2009, Bebê Store was a first-mover in its sector, offering parents a unique online shopping experience by guaranteeing a wide selection of high quality products and personalized customer service. The company has expanded to separate sites for lines of baby products, toys and goods for mothers, projecting close to $42.5 million in revenue for 2014. Baby.com.br is a major player in Brazil’s e-commerce industry, having attracted over $50 million in investment capital. The acquisition will help Bebê Store strengthen its presence as the leading online retailer of child care products in Latin America, bolstered by Baby.com.br’s existing customer base and product lines.
This merger represents an important milestone in Brazil’s fast-growing e-commerce sector. The rapid rise of the tech and online retail industries in Brazil has been one of the biggest factors in driving the country’s economic resurgence over the past decade. Research shows that nearly 50 million people in the country are active Internet consumers, demonstrating major potential for growth as the nation’s e-commerce market is expected to become the world’s fourth largest by 2016.
With this new round of financing, Bebê Store has raised nearly $30.5 million led primarily by the London-based Atomico. About two-thirds of the $12.3 million is venture capital and one-third is a bridge loan, with Brazil-based W7 Venture Capital also adding on to its earlier investment. Endeavor Catalyst, Endeavor’s passive co-investment vehicle, also supported this recent round.
Since his selection by Endeavor in 2013, Leonardo has been an active member of the network, receiving custom mentoring on expansion strategies and investor introductions through the Endeavor Investor Network.
Read coverage of the news in The New York Times’ Dealbook and learn more about the company’s financing round by clicking here.
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