Did you think that the last quarter’s results were old news? Not yet, they aren’t. This was a busy week for the Brazilian market with the big retail companies announcing their latest results, such as Magazine Luiza, B2W and, Centauro. There were a few surprisingly quick recoveries, especially the sporting goods retail market.
But not everything is about last quarter’s results. We also had some promising news about what’s next on the horizon. One thing that surprised us this week had to do with technology sector. And to talk about technology is to talk about the streaming market. This week the Brazilian TV channel group Telecine announced that it will also enter the streaming market in Brazil. Their first strategic move was taken in December, when the company considered offering a paid subscription without the need of hiring the full TV package. The company is officially preparing itself to offer a streaming product, focused only on movies.
It has been quite a busy week in the political front, one that promises to be all the more exciting in the coming days. A big policy is still in the works in Congress, and it will positively affect startups and SME’s: the Brazilian “Economic Freedom” Policy was passed in the House of Representatives, although it still has to be voted on in the Senate by the end of August. Why it is this important? Read about about the five key changes introduced by the Economic Freedom policy here.
And last, but certainly not least. This week Uber’s CEO revealed that Latin America remains to be one of the most important markets for the company. “Latin America is one of the best markets we have in the ride share business. It is a huge market. The GDP there is increasing,” said Dara Khosrowshahi, CEO of the company, in addition to mentioning the relevance of Argentina for Uber. “You look at Argentina for example, Buenos Aires now is the fifth largest city for us globally in terms of trips-for-rides business. So, we know how to operate in Latin America.”
While we are on the topic of Argentina, our foreign readers are probably thinking: “Brazilians really do avoid talking about Argentina, don’t they?” Well, this week we are taking a step outside the box and talking a bit more about Argentinians.
Keep on reading to get up to speed with everything that has happened this week.
5- Don’t cry for me, Argentina! Primaries indicate Macri’s exit.
The results of the primaries in Argentina are in, and they have sent a shockwave throughout the financial markets in Latin America. And the results are stoking the fire of an already hostile economic environment–with the US-China trade war turning into an all out currency war and the UK facing recession.
Far more comprehensive than any other electoral survey, since it requires all voters to participate, the first stage of the primaries that took place this Sunday (11th) showed that President Mauricio Macri has little chance of being re-elected. The vote also revealed that Ex-President Cristina Kirchner may return to politics in Argentina, as vice president of Alberto Fernández. Kirchner’s slate received 47.65% of votes, while Macri obtained 32.08%.
4- Why Walmart will leave Brazil?
In 2018, Advent bought 80% of Walmart in Brazil with the mission of rebuilding the company in the country. The other 20% belong to American partners and should be sold in a period yet to be disclosed by the company. But it seems like their mission was not successful.
The president of Walmart in Brazil, Luiz Fazzio, said in an interview with the newspaper Valor Econômico, that the company would go on to be called Grupo Big and that the Walmart supermarket brand would no longer be present in the country after the first semester of 2020.
In the South and Southeast of the Brazil, Walmart branches will adopt the name Big. In the Northeast, the stores will go on to be called Big Bompreço. In general, 127 supermarkets will undergo changes, with 100 of them adopting the new names.
3- Brazilian startup raises the biggest investment in a SaaS company in Latin America
Resultados Digitais, a Brazilian startup that offers solutions in digital marketing, announced today a new round of Series D investments, led by Riverwood Capital, along with TPG Growth, DGF Investments, Redpoint eventures, Astella Investments, and Endeavor Catalyst.
The BRL 200 million new investment is the biggest obtained by a Latin American SaaS company and will contribute to the international expansion of the startup – in addition to stimulating investments in research and development, as well as help expand the hirings.
2- Nubank release withdraw and debit card for all users
The US$ 10 billion Brazilian fintech Nubank announced this Thursday two long-awaited services: debit card is now available for all users and the withdraw feature was launched.
The debit card was first delivered to a small part of Nubank’s clients, 2.5 million users were already testing the product, and now the company has finally announced that the waiting list for this card is over and now any customer can request one.
In the case of withdrawals, there will be a cost of BRL 6.50 per transaction. Interested customers should order the card through the app. If you already have a company credit card, you will need to enable the debit function, also through the application.
1- Latin America’s Trailblazers: How Microsoft uses technology to empower people and businesses
With a market value that already exceeds $ 1 trillion, and a brand that has become an icon of the technology universe, it is not hard to imagine that the future could take them to the calmer waters of a consolidated patrimony. But that is not sufficient for Microsoft, because the American company has decided to swim against the current and out of its comfort zone.
“We stopped being a company that says “I know everything” and went on to become a company that says “I can learn everything.” This means learning from our mistakes.”Mariana Hatsumura, productivity director of Microsoft Brasil
By understanding how the digital revolution affects the lives of people in all aspects to the way in which we all work, Microsoft’s is one step ahead in coming up with solutions for businesses in constantly changing markets such as Latin America.
LABS+1: “Sintonia” Netflix’s series: The Brazilian suburb as it really is
Created by Kondzilla, the famous funk video producer responsible for the video clips of the biggest artists of this music genre in the country, with the contribution of Felipe Braga and Guilherme Quintella, Sintonia brings a real vision of how young people deal with the common matters of all suburban regions in Brazil.
The series tells the story of three friends that have to balance opposite pillars present in their lives: crime and drugs, religion and music. The main objective is to show to the world a humanized vision of the favelas that are criticized by the rest of society, putting the suburb on the spotlight and given the real-life the protagonist’s role.