Business

Brazil's technology firm Locaweb acquires social commerce startup Bagy

With this acquisition, Bagy joins Locaweb's e-commerce platform for SMBs that features the company's recent acquisitions, Tray and Dooca

Fernando Cirne, Locaweb's CEO. Photo: Courtesy/Locaweb
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  • Bagy is focused on social commerce, with over 13,500 active customers;
  • Bagy’s co-founders Pedro Rabelo, Tiago Amaral, and Marcelo Alves will remain in Bagy’s operation.

Brazil‘s technology company Locaweb announced it has acquired the e-commerce startup Bagy through its wholly-owned subsidiary Tray for an undisclosed amount.

Founded in 2017 in Belo Horizonte, Bagy is focused on social commerce, with over 13,500 active customers. Its purpose is to provide support for SMBs, individuals, and influencers to set up their virtual stores in a simple and fast way. After downloading the Bagy app, the user manages to create a store in a few minutes, using the mobile phone to include products, take photos, determine prices, and offer native integration with the main social networks, particularly Instagram and Facebook, in addition to the Mercado Libre‘s marketplace.

READ ALSO: Locaweb starts offering credit to SMEs and debuts the financial services market

With this acquisition, Bagy joins Locaweb’s e-commerce platform for SMBs that features the company’s recent acquisitions, Tray and Dooca.

Bagy’s co-founders Pedro Rabelo, Tiago Amaral, and Marcelo Alves will remain in Bagy’s operation.

READ ALSO: Brazil’s Locaweb announces a follow-on offering

After raising BRL 575 million on its IPO, Locaweb has recently acquired SocialMinerEtusVindiMelhorEnvioConnectplugSamuraiCredisfera, Dooca Commerce, Bling, and Pagcerto.

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