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Posts Tagged ‘brazil’

Online vacation rental giant HomeAway this morning announced that it is expanding its global footprint and moving into South America with the acquisition of the publisher of AlugueTemporada.com.br, Brazil’s leading vacation rental site. The terms of the deal remain undisclosed.

With its acquisition of what HomeAway claims is the largest vacation rental website in South America with over 12,000 property listings, the company is for the first time extending its virtual borders beyond North America and Europe and increasing its total vacation rental listings to a respectable 475,000 properties.

AlugueTemporada.com.br will continue to operate as an independent brand from its office in Rio de Janeiro, the city that will – conveniently – be hosting both the 2014 FIFA World Cup and 2016 Summer Olympics.

Seems like HomeAway is on a bit of a buying spree more than two years after it raised a whopping $250 million in a single financing round – just last week it announced that it had purchased BedAndBreakfast.com for an equally undisclosed sum.

HomeAway also operates HomeAway.com, VRBO.com, BedAndBreakfast.com and VacationRentals.com in the US and multiple vacation rental sites in France, the UK, Germany, Spain, Italy, Portugal, Netherlands, Norway, Sweden, Denmark and Finland.

Expect more small acquisitions from HomeAway in the months to come.

Google’s recently announced $25 million acquisition of DocVerse represented one saga of an ongoing war between Google and Microsoft over dominance in the productivity suite place. Today, Israeli enterprise software company Mainsoft is launching a Docverse-like plug-in that may up the ante in the battle. Harmony is launching free plug-ins that bring Google Docs documents and Microsoft SharePoint document libraries directly to Microsoft Outlook.

Once downloaded, Harmony for Google Docs will open in a sidebar pane within Outlook. The new Harmony sidebar enables people to share a single, centralized copy of the document, eliminating the many intermediary steps associated with sending e-mail attachments back and forth. The plug-in allows users to locate, share, and work on Google documents directly from their email client.

Once logged in to your Google account, you’ll be able to drag any files (ie Microsoft Word files, PDFs) directly from an email to the Harmony sidebar to upload and convert them to Google documents. You can drag a Google document from the sidebar to create links in your e-mail messages and meeting requests to other users and viewers. Harmony automatically shares the document with the recipients. You can decide to give recipients read or write access. Recipients simply click the link in the message to open the document in their browser and don’t need to have Harmony installed to view the document.

Harmony also allows you to search document contents on Google Docs from the Harmony search box and locate documents using the View Bar, which allows you to switch between common views, such as spreadsheets, starred items, items owned by or shared with you, and more. One of the major features of Harmony is the ability to actually open and edit Google documents from directly in Outlook. All your changes are saved online and are available to your colleagues. You can organize and create folders to store Google Docs and also save Google documents in Office format. Harmony can export Google documents to Office, Open Office, PDF, RTF, HTML, TXT, and image formats.

The SharePoint plug-in isn’t nearly as sexy as as the Google Docs app but still offers a useful set of tools for enterprise users. The plug-in aims to transform Microsoft Outlook into a collaboration console, with access to documents stored on SharePoint. Similar to the Google Docs plug-in, you can drag e-mail attachments or entire e-mail messages to publish them on SharePoint. You can search the contents of documents in your current SharePoint site or library and share documents via e-mail message, calendar appointment, or task. You can edit a document from within Outlook, view document history and more.

Harmony was built using SharePoint Web Services interfaces and Google Docs open APIs and in the process has transformed Microsoft Outlook into a more collaborative application. Most importantly, the Google Docs plug-in makes the transition between web-based documents and the desktop email client seamless. It gives Microsoft users the best of both worlds, much like Docverse did with Microsoft Word documents and web-based files. If you use Microsoft Outlook and Google Docs, the plug-in seems like a no brainer to download. Plus its conveniently free. Considering the fate of Docverse, it may only be a matter of time before Microsoft and Google come sniffing around Harmony.

Brazil is sort of a strange country to throw into the “emerging market” category. It’s not a particularly young country like India or Israel, nor is it a country like China or Russia that embraced capitalism fairly recently. Brazil is as old as the US and has had a decently built out infrastructure of things like roads and phone lines for some time.

Yes, it’s a growing country with a young and stabilizing democracy that has a long way to go in terms of technology, modernization and bridging a quality of life between very wealthy and very poor. In that sense, it shares enough in common with emerging markets that Wall Street, at least, tosses it in the “BRIC” bucket. Indeed, Wall Street has had a way bigger crush on Brazil to date than Silicon Valley.
That seems to have had two effects on the startup scene in Sao Paulo. The first is that there’s a good deal of innovation in the finance space. Banks in Brazil had to become advanced, many people told me, because of the runaway inflation that plagued the country for so many years. As opposed to other huge markets like Mexico, China or India that lagged in the adoption of checking accounts and other basic services, in Brazil you had to have your money in the bank, because the value of cash changed so rapidly.  So it’s no surprise more of those there’s-a-better-way spin-offs have come in finance than, say, Web 2.0 or mobile. (There’s a ton in agriculture and other sectors outside the cities too, but more on that in a future post.)
My favorite finance company that I met during my February trip to Brazil is called Crivo, and it left me wondering if that great wave of finance innovation might come from our Southern neighbors, not us.

Crivo has developed a way to do lightning-fast, three-second credit checks. Its servers pull information from a variety of sources, including all the places you’d expect but but also sources like utility records to verify an applicant’s address or ensuring that their phone number doesn’t just go to a payphone. “Even a single piece of information can be useful in detecting fraud,” says Daniel Turnini, one of Crivo’s founders. (Pictured above, on the right, with his co-founders.)

There’s nothing like a FICO score in Brazil so, in the past, credit decisions were made based on negative data and positive data. In other words you are “good” or “bad” in the bank’s eyes. There’s little record for positive data in Brazil, because the wealthiest people don’t want how much they paid for a house or a car in public records. It’s a security issue, Turnini says. That only leaves negative data.

So if there’s no information about you, it’s assumed you’re a good credit risk. But miss one payment and you have a “dirty name,” Turini says. It’s a flawed system. Many good credit risks (indeed I’d bet most people) have missed a payment before, and it’s a huge assumption to make that someone with no credit history would be a good borrower. In recent years there have been banks, insurance companies, and similar institutions vying to cash in on Brazil’s emerging middle class and increasingly wealthy upper classes, but had no real way of knowing how to extend credit.

Sound like great timing? It would have been if Crivo wasn’t started in 1998. Back then, few banks in the US would have been early adopters of something like this, let alone banks in Brazil. (Ok, most banks in the US still wouldn’t be.) Nailing that first customer was near impossible. The founders kept thinking they were on the right track because potential customers would freak out when they saw how quickly the software worked, but they’d never quite pull the trigger on a purchase. Always hoping things would finally click the next year, the founders kept bootstrapping the company. Finally, it did. Toyota’s Brazilian financial arm bought their software and used it to rapidly approve people for loans, beating other car makers who were flooding into the growing market. The company has been on a sharp growth rate for five years now. They did roughly $12 million in revenues last year, and expect that to double in 2010, Turini says. Crivo says it has more than 80 employees and 100 customers today.

There are clear ripple effects if Crivo does well. More people getting credit cards helps grow spending and ecommerce, more small businesses can get loans, and more people who can’t afford to pay in cash can buy houses – to name just a few advantages. We’ve seen the benefits of “greenfield markets” when it comes to innovation in telecom and even physical infrastructure, like roads and trains. Might Brazil be able to come up with some greenfield solutions for finance? It’s easy to see how a FICO score could be improved on and, ahem, really easy to make the argument that way too much credit has been extended in the US in the last ten years. But while we have a system in place, who is going to upend the apple cart and force widespread-adoption of a newer, smarter system? It’s South Korea and telecom all over again.

Yes, I realize that to many tech entrepreneurs, the idea of a country amassing an army of middle managers sounds about as appealing as a resurrection ship of Cylons. But a lot of the most talented local entrepreneurs, managers and even investors I met in Brazil had spun out of a year or two in consulting and finance.

An example was Diego Simon of VivaReal (pictured right, working in his tiny home office), a broad Latin American real estate portal that has increasingly been focusing on Brazil. Neither of the founders are Brazilian – or even live in Brazil – so finding someone like Simon was essential. Entrepreneurs from other South American countries say selling to Brazil as an outsider is harder for them than selling to China. That makes Simon exactly the Droid any company like VivaReal is looking for: He had experience running his family’s business, worked a stint for a multinational but left because he wanted to do something vaguely entrepreneurial – although he didn’t know exactly what. I’ve never been particularly bullish on real estate portals, but if VivaReal does well, it will be in no small part due to Simon criss-crossing Sao Paulo in his Fiat extolling the virtues of online listings under the auspices of a common culture and language.

The problem is—like in China and India—the allure of the multi-national paycheck and prestige is strong in Brazil. The management expertise may be there in greater numbers, but convincing someone to take a gamble on an unproven startup for stock is as hard as it is anywhere in the emerging world.

Will Spain repeat its Euro 2008 success? Greetings from lovely Seattle! I’m here on the West Coast for two reasons. One, Thursday was Adidas’ World Cup Media Day in Portland, and I was invited to check out all the hi-tech wonderment that the company has in store for this World Cup year

Continued here: 
The many hi-tech wonders of Adidas at this year’s World Cup

Hamburg, Germany based Qype, a Yelp-like site that’s focused on European markets, has recently had long acquisition looks from both Google and Nokia, we’ve heard from multiple sources. A deal with Nokia in particular was looking extremely likely until recently.

The site was first launched in 2005 and today attracts 9 million monthly worldwide visitors, according to Comscore, just a little less than Yelp’s 11 million. Both likely have far more actual visitors, but Comscore is good for comparision – in December, for example, Qype told us they had 17.7 million unique visitors. A year ago the company brought in a new CEO and have been expanding rapidly across Europe.

Google supposedly took a look at the company and passed, opting instead to just import Qype’s content. Nokia made a run for the company after Google, with one source saying that a term sheet had been signed in the $50 million range.

But another source says that a term sheet was never signed and the deal negotiations broke down over both price and other contract terms.

Qype isn’t helping much with the story, sticking to their no comments. But founder Stephan Uhrenbacher did email to tell us that the site has 500,000 registered users who’ve left over 1 million reviews. They are available in seven languages and have sites in UK, France, Germany, Spain, Italy, Poland, Brazil, Ireland.

So for now at least Qype may remain independent. But like Yelp, which had its own acquisition drama late last year, Qype is in the local advertising sweet spot, where billions of advertising dollars (and euros) will be flowing over the next few years.

Qype has raised around £8 million in venture capital.

That’s right, ladies and gentlemen. Our own Nicholas Deleon hit level 75 with his Blood Elf Warlock yesterday in World of Warcraft. Only five more levels to go until, “I’ll have nothing to do anymore,” said Deleon

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Nicholas hits level 75 in World of Warcraft

Ok. Even for a holiday it’s clear you guys had a fever and the only prescription was more free stuff.

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CrunchGear’s “Clean Out My Office” Contest First Day Results

Newsflash: birds see a LOT of stuff thanks to the fact that they can fly. Garmin wants to give you the same sensation (minus the flying part) with its new “BirdsEye Satellite and Aerial Imagery” feature, “an annual subscription service that gives users the option of loading highly-detailed photo-based maps to select Garmin handheld navigators,” according to a recent press release. You’ll be able to access the imagery on Oregon, Dakota, and Colorado series GPS units for $30 per year

Read more from the original source:
Garmin hops on the satellite imagery bus

Mobile payments for micro-transactions on the web are steadily gaining traction. This morning, the space received more validation as several prominent venture capital firms made a significant a investment in recently launched mobile payments startup, Boku. Boku has raised $25 million in Series C funding led by DAG Ventures with previous investors Benchmark Capital, Index Ventures, and Khosla Ventures participating in the round. This brings Boku’s total funding to $38 million since the startup’s launch in June. Boku’s marketing chief Ron Hirson tells me that the startup is also rebranding its consumer platform as Paymo, but will retain the name Boku on the merchant and publisher side.

Boku, which acquired competitors Paymo and Mobillcash in June, doesn’t require users to have a credit card or bank account to make a micropayment. Users enter their cell phone number on the site, reply to a text message and then all virtual charges are automatically charged to the user’s monthly cell phone bill. As we’ve said in the past, it’s ridiculously easy. Because of its acquisition of Paymo and Mobillcash, systems that had significant international reach, Boku gained a strong base of users around the world.

Today, Boku’s reach extends to 58 countries and 190 carriers, with two more countries (Latvia and Lithuania) being added by the end of the week. Carriers in Brazil and Argentina will also be added shortly and is expected to bring a large amount of users because of the high mobile phone usage stats in South America. Hirson says the new cash will be used to further the companies international growth and expand product offerings.

The startup is also seeing success on the publisher side, announcing 12 new partnerships with online game developers in the past month. In fact, since June, the company has developed mobile payment relationships with over 1,000 game and app developers to help power payments for virtual goods and currencies on many of the top social networks, including Facebook and MySpace. The startup currently powers mobile micropayments for both Playdom and Playfish, which was acquired by Electronic Arts.

One potential obstacle to mobile payments platforms is the high fees that mobile carriers charge to the payment systems (which are then passed on to the publisher). Boku told us last June that different cell phone carriers charge varying fees that range between 10% to 50% of the purchase price, which is a hefty amount in transaction fees. But it looks like Boku is on its way to remedying this problem. Hirson indicated to me that the company is in negotiations with carriers to bring fees. He said that carrier fees in parts of Europe will come down first and hopefully roll out to the Americas and remaining parts of the world.

Of course, its worth mentioning Boku’s main rival in the mobile payments space, Zong, which struck a large deal last year with Facebook to pay for the social network’s virtual currency. Zong also recently launched an alternative payments system, called Zong+, which lets users bill microtransactions to credit, debit and prepaid cards.

With $25 million in the bank, its hard not to imagine that Boku could snap up a few smaller players in the mobile payments and microtransaction space. When asked about the possibility of further buyouts down the line, Hirson said that while acquisitions aren’t currently part of Boku’s immediate strategy, he couldn’t rule out the possibility in the future.

Israeli startup Siano Mobile Silicon, a developer of mobile digital TV receiver chips, has just raised a $23.5 million in funding from Jerusalem Venture Partners, DFJ Tamir Fishman, Star Ventures, Walden Israel, and Bessemer Venture Partners. This brings the startup’s total funding to $75.5 million.

Founded in late 2004, Siano develops and markets silicon semiconductor chips for reception of digital TV on mobile, portable and hand-held devices. The company’s chips are mainly used for the implementation of mobile TV in emerging markets such as China, Brazil and Europe. The company supplies its chips to Samsung, Motorola, ZTE, Huawei, Mio, Garmin, Dell and others. The new funding will be used for product development and market expansion.

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