Mountain Nazca announces the acquisition of Peixe Urbano, its main competitor in Brazil
Mountain Nazca, which acquired Groupon Latin America in March 2017, acquires the controlling stake in Peixe Urbano, until now owned by China Baidu. With this step, Mountain Nazca will merge its business Online to Offline (O2O) achieving presence throughout the following regions: Argentina, Brazil, Colombia, Chile, Mexico and Peru.
Old rivals in Brazilian e-commerce, Groupon Brasil and Peixe Urbano, which became known in the early 2010 with the collective purchasing model, now operate in the discount coupon segment. The two companies will join their teams, but keep both platforms working. Furthermore, both will share technologies – an example is the Use Now system, present in Peixe Urbano’s application, which allows the user to purchase a discount coupon and use it in sequence. According to Peixe Urbano, the modality corresponds to 90% of the restaurant offers of its platform, and will now be available on Groupon. Today, Peixe Urbano has about 30 million users in Brazil – Grupo Groupon does not reveal its number of users in the Country, but is used by 52 million people in Latin America.
“Peixe Urbano and Groupon Latam will make up in Brazil and the rest of Latin America a digital platform on a scale that makes us dream big,” said Alex Tabor, CEO of Peixe Urbano.
“This is a common venture story, where two founders buy back our companies from world-class players such as Baidu and Groupon, supported by knowledgeable investors from the region,” said Felipe Henríquez, Managing Partner Chile of Mountain Nazca and President of Groupon Latam.