General Atlantic, Tiger Global Invest in Peixe Urbano
General Atlantic has made a minority investment in Peixe Urbano, a daily deals site in Brazil. Tiger Global Management, a hedge fund run by Chase Coleman, also invested in the round, says Fernando Marques Oliveira, a General Atlantic MD. He declined to disclose financial terms. Peixe, of Rio de Janeiro, is the first company to launch group buying in Brazil, Oliveira says. The company was started in March 2010 by CEO Julio Vasconcellos, Emerson Andrade and Alex Tabor, who all met at Stanford University, according to MarketWatch. Peixe Urbano now has 9 million users, has sold 5 million coupons and employs about 600 people. The much bigger Groupon is in Brazil but Peixe established its footprint in the country before them, Oliveira says.
6 May 2011•2 mins read
