- With the acquisition by Magalu, Jovem Nerd’s content will continue to be broadcast on the brand’s channels and will also be integrated into the Magalu app;
- Magalu hopes to expand the reach and usage time of its app and the relevance of MagaluAds;
- The terms of the deal were not disclosed.
Brazilian retail giant Magazine Luiza (Magalu) announced on Wednesday the acquisition of Jovem Nerd, a multimedia platform focused on the nerdy and geeky public. The terms of the deal were not disclosed.
Jovem Nerd is a content platform on themes of nerdy culture, including cinema, series, games, history and science. Founded in 2002, its numbers scale the popularity of its content well: the programs NerdCast, NerdOffice, NerdBunker, NerdPlayer and Nerdologia have already surpassed more than 1 billion views on Youtube; the Jovem Nerd channel over there has more than 5.5 million subscribers.
Also, Jovem Nerd was one of the first to produce podcasts in Brazil, in 2006. Produced fifteen years ago, in 2019 NerdCast was the first podcast in Brazil to have more than 1 billion downloads, according to Magalu.
With the acquisition by Magalu, Jovem Nerd’s content (for audio, video, text, and games) will continue to be broadcast on the brand’s channels and will also be integrated into the Magalu app. With this, Magalu hopes to expand the reach and usage time of its app.
According to a statement released by Magalu to the market, the retailer hopes to further expand its audience and the relevance of MagaluAds. Magalu recently acquired the content platforms CanalTech and Steal the Look.
Later on Wednesday, Brazil’s antitrust watchdog (Cade) decided by the dismissal of the appeal of Mercado Pago, the payments arm of Mercado Libre, on the acquisition of fintech Hub Prepaid by Brazil’s Magalu. Cade authorized the deal (started last year and approved by Cade’s General Superintendence in March) without restrictions.