Business, Investments

Naspers Invests $40M in Brazilian App Maker Movile

image source: movile

image source: movile

Brazilian app maker Movile has received an investment of $40 million from media and technology investment company Naspers. The new investment has raised the total sum raised by the company to $100 million.

Movile specializes in making apps which provide on-demand delivery of products and services. Currently Movile offers food and ticket delivery services, through its iFood and Cinepapaya subsidiaries, as well as delivery logistics and online reviews through a suite of acquisitions made over the last two years.

The company has more than 500 employees who are working in offices across Latin America and in Silicon Valley. Building apps across various smartphone platforms and specializing in on-demand services seems to be the company priority now.

Regarding the investment “We believe this is a billion dollar opportunity,” says Fabricio Bloisi, Movile’s chief executive. “Everyone will start to use the mobile phone to supply what they want within 30 minutes to an hour.” as reported by TechCrunch.

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