Rappi represents a new era for Latin American technology startups.
Based in Bogotá, Colombia, the on-demand delivery startup has taken the region by storm, attracting a record amount of venture capital funding in mere months. Today marks the beginning of a new round of explosive growth as SoftBank, the Japanese telecom giant and prolific Silicon Valley tech investor, has confirmed a $1 billion investment in the business.
The king-sized financing comes two months after SoftBank announced its Innovation Fund, a new pool of capital committed to spending billions on the growing tech ecosystem in Central and South America.
VC funding in Latin America catapulted to new heights in 2018. Startups located across Argentina, Brazil, Chile, Colombia and more have secured nearly $2.5 billion since the beginning of 2018, according to PitchBook, up from less than $1 billion invested in 2017.
SoftBank plans to transfer the Rappi investment to the Innovation Fund “upon the fund’s establishment,” ac..
Spot.IM announced today that it has raised $25 million in Series D funding.
We’ve written about the company’s commenting platform before, but CEO Nadav Shoval said it’s now building a broader “community platform.”
That platform goes beyond commenting and moderation to also include community pages and other ways to highlight and monetize user-generated content. Its customers include Hearst, Refinery29, Fox News and our corporate siblings at Engadget and AOL.com.
Shoval argued that these tools are particularly important as digital media business models are struggling — regardless of whether those publishers are focused on advertising, subscriptions or other business models, the key is to focus on loyal users rather than “random users that come in and disappear.”
Spot.IM can make a big difference in this area by keeping users engaged, and by providing data to help publishers understand the behavior and value of their users. In fact, Shoval said that for some publishers, a Spot.IM user..