Last Monday, the 10th, the Colombian company Rappi, acting as an ordering and delivery application, bought the Brazilian company Box Delivery. The acquisition value refers to 100% of all reserved rights of Box and, although the value has not been disclosed, the rappi says it was a landmark acquisition.
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Sebastian Mejia, president and co-founder of Rappi, informed Reuters that negotiations have been taking place since the last six months of 2022.
This was an unprecedented acquisition, as stated by Sebastian, as they do not usually make acquisitions, unless connections are created – as happened with Box Delivery.
Rappi operates in other Latin American countries, but the Brazilian market has been seen as a priority.
“What this transaction demonstrates is our commitment to Brazil, we will continue investing”, said the owner of Rappi, informing that this is a special moment for the area at this moment.
Box Delivery was founded in 2016, in Santos (SP) and operates in the delivery services and logistics sector. In the list of clients, the biggest names so far are Burger King and Ultrafarma, in addition to being in common agreement with other large companies.
According to information from Rappi, the company's goal is to deliver within 15 minutes. Although the president declared it to be a special moment, in fact, this is a moment of great challenges that startups have been facing.
Tech companies are facing a wave of layoffs and difficulty around the world. In deliveries, Uber Eats stopped operating in Brazil last year and 99Food followed the same path, informing the end of work in Brazilian territory.
The main reasons are given by the lack of resources and the economic difficulty faced in the post-pandemic scenario.
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