SEPTEMBER’ 19 ISSUE #1

The drivers of real change Rappi, UseGiraffe, , and Carrefour: What do these companies have in common? Meet Latin America’s Trailblazers, players that are taking the region to a whole new level

INTERVIEW OPINION INFOGRAPHIC Fernando Teles: fires: The explosion of The enemy is cash. from Borges’ Paradise venture capital investment Believe it or not to Dante’s Inferno in Latin America EDITORIAL The real enemy is cash FERNANDO TELES, DIRECTOR OF VISA IN BRAZIL TALKS ABOUT The time for THEIR STRONGEST WEAPON TO WIN THE CASH WAR: INNOVATION Latin America LABS is a content platform The drivers of real change is now about Latin America, focused on economics, business, READ THE STORIES OF LATIN AMERICA’S TRAILBLAZERS: technology and society. By COMPANIES THAT ARE SHAKING THINGS UP IN THE REGION providing deep and accurate content about the economic and technological landscape luricultural, diverse and expan- 10 Rappi PUSHING LATAM INTO A DIGITAL SHIFT of Latin America, both in sive, Latin America is home to P Portuguese and English, we help not only 500 million people, but entrepreneurs and the general 14 UseGiraffe MAKING CHINESE E-COMMERCE IN A BRAZILIAN WAY also to a wide number of new ventures. public understand the region’s particularities. The digital transformation has been tak- 18 Microsoft USING TECHNOLOGY TO EMPOWER PEOPLE AND BUSINESSES ing the region by storm, and these huge Masthead shifts are attracting the eyes of many sav- LABS Editorial Board 22 Ubisoft BETTING ON LATAM WITH A FRENCH DNA vy players. But it’s certainly no easy task [email protected] to understand the plural Latin America. Thiago Romariz 26 Carrefour BRINGING INNOVATION TO A TRADITIONAL SECTOR Head of PR and Content at LABS LABS - Latin America Business Stories [email protected] - is a specialized hub that makes tailored content from Latam to the world, and Fabiane Ziolla Menezes Amazon fires Editor-in-Chief of LABS tells the best stories about the region’s LABS COLUMNIST GABRIELA ANTUNES NARRATES THE DEVASTATION [email protected] businesses, economy, society and tech. DURING HER JOURNEY IN THE RAINFOREST From market to culture, this edition Anna Lima unveils the idiosyncrasies of a region full Content strategist focused on LatAm at EBANX of opportunities–yet little understood. [email protected] Culture and society Enjoy reading! Livia Perretto on the spotlight LABS TEAM Content strategist focused on LatAm at EBANX BRAZILIAN CULTURE WITH THE LATEST MOVIES AND SHOWS [email protected]

Design by Leticia Mulinari. The wave of Venture Capital Cover Illustration by Felipe Mayerle. AMERICAS MARKET INTELLIGENCE SHOWS THE RISING INJECTION OF VENTURE CAPITAL IN LATAM

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2 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 3 LABS You already said that the evolu- lenders (B2C), payments from consumer tion of payments would not eliminate, accounts to businesses (C2B) and transfer- so soon, the card machines and, much ence of funds between businesses (B2B). less, the debit card. This also, looking The transfer can be completed any day at Latin America and Brazil, in a context of the week and at any time of the week, of unbanked individuals, informality, including weekends and holidays. Visa in and also in the optimization of existing collaboration with Cielo and the Bank of physical payment methods. Thinking Brazil have already made available such INTERVIEW of that, what will be the next payment technology through Visa Direct. solution to be adopted by Brazilians? The case of debit online is an excellent TELES According to ABECS [Brazilian ally in digital inclusion for Brazilians. With The enemy is cash. Association of Card and Services the update of our authentication protocol, Companies], the payments completed with called 3DS 2.0, the utilization of debit on a Believe it or not. credit, debit, and pre-pay cards should large scale, without a card machine, direct- grow about 16% in 2019, reaching the level ly via the app, without the need to re-in- Visa’s director in Brazil, Fernando Teles, explains how a bet on innovation of BRL 1.8 trillion. Purchases with cards troduce the password in each operation, is making the company victorious against its biggest opponent should register, in the fourth quarter of became a reality. Currently, debit went on 2019, a record participation of 40% con- to occupy an important space between cerning the volume of consumption new businesses, such as mobility, stream- BY FABIANE ZIOLLA MENEZES of Brazilian families. ing, delivery services, among others. This strong increase follows a process of digitization of payments, in which LABS What is the adherence of the or Mastercard, nor fintechs. of payment methods follows several paths, more and more consumers from all over Brazilian public to payment technolo- N The biggest enemy of Visa in Latin which vary from country to country. the country uses cards and other digital gies by approximation and wearables America is cash. In Brazil, from 2008 to The fact is that this potential is enor- means, be it in person or through the like? 2018, the value exchanges via credit card mous in Latin America. It is only necessary Internet or applications, in their pur- TELES Payment by approximation has been purchases in the country went from BRL to look at the number of countries such as chases. And more and more stores and defining the way in which Brazilians com- 335.67 billion to BRL 1.5 trillion, according the or South Korea, where service lenders are accepting this kind of plete their purchases, by the convenience to data from the Brazilian Association of the use of credit cards reaches 45% and transaction. of being more practical and fast, and by Card and Services Companies, the ABECS. 70% of family spending, respectively. In other words, there is still quite a bit the security of the user not having to pass Credit card payments account for 40% of If in China the mobile payment and/or of space for growth. I would say that there their card from hand to hand, so that the family spending in Brazil—a level that is instantaneous has already exceeded the is no silver bullet, a single solution that we payment might be concluded. also due to the gradual opening of the cash alternative via credit cards and the bet on, and the person that decides is the Public transport is one of the sectors segment by regulating institutions since margins of the regulated market bloomed, consumer, that is sufficiently empowered that has been helping to popularize the 2010, and the subsequent entry of new this will not happen in Brazil, where there to choose that which offers the most con- technology. In May of this year, Visa players in the chain as a whole. Until 2022, is a fixed park of card machines and in full venience in their day to day. announced the pay- the goal of brands, such as Visa and development. “I would say that there is no Beyond payments by approximation, ment by approxima- Mastercard, lenders and acquirers, will be silver bullet, a single solution on which I also believe that the upcoming solu- tion for credit cards There is no silver bullet, to make the card and electronic payment we bet on, and the person that decides is tions that will be more broadly adopt- in collaboration with methods correspond to 60% of family the consumer, that is sufficiently empow- ed by Brazilians will be instantaneous MetrôRio. Cariocas a single solution that spending in Brazil. ered to choose that which offers the most transfers from person to person and/or and tourists already we bet on, and the Challenges behind this goal are not only convenience in their day to day,” evalu- between companies; and the acceptance adhered to the pay- a question of technology, but rather of ates the general director of Visa in Brazil, of online debit, be it in e-commerce or in ment by approxima- person that decides is culture and of how the payment methods, Fernando Teles. applications. tion technology in the consumer, that is together with the popularization of smart- In an interview with LABS, he spoke of In the case of instantaneous transfers, it the subway of Rio de phones, have the power to contribute to the the future of payments and also of how a will be possible to make direct payments Janeiro. According sufficiently empowered to formalization of relations of production, true transformation, in the past three years, between peers (P2P), payments of com- to data from choose that which offers and also to the social inclusion of the pop- with a focus on innovation opened new panies to individuals, such as insurance VisaNet, from the ulation. This means that the development horizons for Visa operations in the country. compensations and payments to service launch of the new the most convenience in their day to day.

FERNANDO TELES, GENERAL DIRECTOR OF VISA BRAZIL

4 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 5 Visa does not have a team

responsible for innovation. LABS Some surveys show that Brazilians All our employees participate are more open to new technologies than individuals from other places. in developing solutions. Why does that happen? FERNANDO TELES, TELES We are a strategic country, since GENERAL DIRECTOR OF VISA BRAZIL we have a gigantic acceptance park and a people thirsty for experimenting with new technologies. Brazilians are early adopters payment option at the end of April to July, and like to try out new things. And because the number of transactions by approxima- they are favorable to implementing new tion completed in the 41 stations of the Rio technologies, they became assiduous users de Janeiro subway grew 58%. In addition, of business solutions, as well as spreading 94% of the people that used the solution the word and validating that which was in the subway for the first time, continued launched. using the solution in a recurrent manner, according to MetrôRio. LABS What are Visa’s investments in In June, Visa surpassed the number of 2.5 innovation? million monthly transactions completed TELES We do not offer investment using the technology of contactless pay- values, but innovation is one of the ment in Brazil. And that growth has been pillars that make Visa one of the biggest exponential since January, when we reg- companies in the world. In the last few areas. Today, we see in a single work LABS What is the program Cities of the istered a million. These numbers demon- years, we completed a true transforma- group, a mix of knowledge and extreme- Future, that began with three and now strate that Brazilians are more and more tion in the way that we work disruption ly rich experiences from different areas. has more than 200 cities, in this inno- technologically adept, which transforms inside the company. By narrowing our link with start- vation context like? Is it the broadest the payment experience into something Three years ago we opened our own ups, we grow together. In the last and most complex project by Visa in faster and more practical. This increase Innovation Studio in São Paulo. It was three years, we became all the more terms of innovation? is also due to the fact that the country is in that space that we brought togeth- acquainted with the digital entrepre- TELES Brazil is a heterogeneous country, Fernando Teles practically ready to accept the technology, er employees from Visa, clients, and neurship ecosystem through the Visa very diverse. From the beginning of the became Visa’s more than 82% of payment terminals in- startups to co-create the future of the Acceleration Program. Up to the end program, we took care to contemplate director in Brazil stalled in the Brazilian market are already technology industry for payments in of the year, more than 70 startups went the actions and initiatives that catered to in 2016. prepared to receive the technology. Brazil. Our center of innovation bears through our program and what is the characteristics and needs of each city witness to the emerging solutions of more important, we learned as much served by the program. We promote a series artificial intelligence, modes of facili- as they did. of activations, with incentive promotions tating digital payments, among others. We made it our goal to place our for the use of cards, hackathons, actions in Our clients arrive with a problem that employees, from all positions and financial education, and growth in the issu- they want to solve and, through the areas, to work as mentors of the fin- ing of electronic payment acceptance. design thinking methodology, we were techs that participated in our Startup We see that the objective of transforming able to come out of the co-creation Acceleration Program, given that we the payment ecosystem of those regions is session with solutions and assertive knew of the importance of learning being fulfilled, thanks to the care we take products. We gained agility. Often, we with the mindset of digital entrepre- with our partners such as EBANX, that have launch complex and secure projects in neurs to think quickly, to not be afraid been helping us leverage the development less than 3 months—what has been a of making mistakes, and to look for ex- and reinforce the benefits of electronic real revolution in the industry. ponential results. And this should not payment methods in the cities of Cascavel Visa does not have a team responsi- be centralized the areas focused only and Paranaguá, in the southern region of the ble for innovation. All our employees on technology. Whoever thinks that in- country. participate in developing solutions. novation is necessarily high tech, is not We celebrated a year in August, and ac- Since we implemented shared goals, we on the right track. Since I came to Visa, cording to a survey made by our consulting managed to generate an exchange in the I have been surprised by the quantity firm, Visa Consulting & Analytics (VCA), experience of incommensurate riches of innovation that is lead by procedural we can see an expressive growth close to among executives of the most diverse areas, such as payments of account, 84% in the adoption of electronic pay- for example. To understand how to do ments in pilot cities—Maringá, Belém, and the same tasks in a more flexible way, Campinas. There is still much to be done, it is convenient and better to become but we are happy with these results, for disruptive, and this team has done that there are more than two hundred cities that like nobody else. have benefitted from our initiative. Photo: Visa

6 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 7 SPECIAL The time for Latin America is now

any are the challenges for those M who dare to break the status quo – and going hand in hand with these challenges is opportunity. We present the Latin America’s Trailblazers, a series about some of the companies that are winning over the region - and writing their names all over it.

From different sectors, whether Latin American or not, these players have been shifting things around here. Get to know them:

8 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 9 TECHNOLOGY How Colombian Rappi is leading the way in Latin America’s new tech era

From mobility to financial solutions, Rappi is Latin America’s super app. Understand why the startup is taking the region to a whole next level of disruption

BY ANNA LIMA South American on-demand delivery Don’t get me wrong. We sure have prob- A startup from Colombia, Rappi is a lems of all sorts here. But these same prob- rising star within the region, having lems, along with a behavioral shift, are the reached the unicorn status last year and ones opening plenty of room for a brand recently attracting a $1 billion investment new set of opportunities. This behavioral from Japanese group Softbank – a rise that shift has to do with connection: 375 million establishes a milestone in Latin America’s internet users and 250 million smartphone venture capital market. owners, all the while the e-commerce Such a tremendous and fast-paced sector reached $54 billion in 2018, up from success in a region still underrated for its $29.8 billion in 2015 across the region. business and technology potential has led Latin America has never been more

us to ask the following question: How is connected. Mobile technology adoption Rappi Photo: Rappi managing – and succeeding – to lead is booming, and people are seeking to get this technological shift and behavior trans- smarter, easier solutions to solve their day- formation in the region? “In this particular to-day problems. In fact, Latin Americans Sebastian Mejia, moment, there’s no place in the world with are eager for solutions – innovative solu- cofounder of Rappi: Latin America’s business “Rappi’s founders have a bold vision to as much potential as Latin America,” said tions that meet their needs, where tradi- $1.7 billion gained in transformation create the premiere multi-service ‘su- Fernando Chavarro, product lead at Rappi tional ones have been failing. investments in less “Some years ago it was very hard to open per-app’ for Latin America, improving the in an exclusive interview with LABS. It is this scenario – this particular match than four years. a startup and raise investment in the re- lives of millions in the region. In less than The region has suffered from political in- of elements – that made Latin America gion. The real change that has generated four years, Rappi has become one of the stability, economic crises, strikes, inflation, reach an unprecedented turning point. a wave of growth and booming potential fastest growing startups in Latin America. social inequality, corruption… and the list The keyword? Access. is the money these players can raise in This rapid growth demonstrates the im- goes on and on. When it comes to reputa- Startups, technology, and innovation investment: this shapes the speed in mense opportunity in the Latin American tion, Latin America’s score wasn’t the best here are pushed to solving real problems which a business can – or can’t – thrive” region”, said Marcelo Claure CEO of in the eyes of global players. and creating real solutions. That’s why says Chavarro. Softbank Latin America to Bloomberg, con- However, things have been changing for these challenging problems also trigger If the Latin American market was once cerning the recent announcement. some time now – or so it seems. Why are great opportunities. But these are oppor- overlooked by investors in the likes of Other disruptive Latin American players venture capital and big investment players, tunities for the ones who dare to take it. Softbank, Sequoia Capital or Tencent such as Loggi, Gympass and 99 – to name like Softbank, investing in these countries? Rappi is one of those. Holdings, now things have changed. only a few – have also attracted invest- How is it possible that the Colombian start- Profitable innovations are no longer ex- ments from Softbank: “There is so much up Rappi raised $1 billion capital from the clusive to Silicon Valley. innovation and disruption taking place above-mentioned Japanese group? How can In this particular moment, there’s Softbank is there to prove it. After an- in the region, and I believe the business we explain the booming number of startups nouncing a $5 billion innovation fund for opportunities have never been stronger. whose solutions are elevating them to no place in the world with as much startups early in March, the largest tech- The SoftBank Innovation Fund will become unicorn status within the region in such a potential as Latin America. nology fund exclusively focused on the a major investor in transformative Latin short time? Latin American market; the Japanese giant American companies that are poised to Could it be that it’s because Brazil, FERNANDO CHAVARRO, PRODUCT LEAD AT RAPPI conglomerate’s first move was to assign a redefine their industries and create new Mexico, Argentina, Colombia, and others great deal of this for the Colombian super economic opportunities for millions of peo- are heading to a stable and peaceful path in app Rappi – $1 billion, to be precise. ple”, said Marcelo Claure to Techcrunch. terms of politics and economy?

10 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 11 When you want to, business works: and Latin America has a culture of knowing how to make things happen. already with its sights set to becoming a super app. What began as a service fo- FERNANDO CHAVARRO, cused on delivering beverages and meals, PRODUCT LEAD AT RAPPI soon expanded into groceries, tech goods, and medicine. Global investors, such as China’s And this isn’t everything: the super Tencent Holdings Ltd, Sequoia Capital, app also offers cash withdrawal, allowing Tiger Global Management, Kaszek users to pay with credit cards and receive idea, we launch a prototype in two weeks, In fact, these laws vs. innovation para- Ventures, Andreessen Horowitz, and cash from one of Rappi’s delivery agents. which helps us understand what can be digm are ancient history – and any country Softbank are investing in Latin American Although their app includes stores, improved and whether or not we should has to deal with these types of matters. It is startups along the lines of Rappi, Nubank, pharmacies and beauty services, they also follow through,” said Rogério Pagliari, no different for Rappi: they met with resis- iFood and Ualá. Why? Because these are have a feature that literally allows you to Rappi Pay leader at Brazil to Startse. tance, but are currently building good rela- some of the companies changing the busi- buy anything from anywhere. Your wish In Brazil, Rappi started operations tions with government and market players. ness landscape and making Latin America is their command: access the app, fill in August 2017 and is now planning a “When you want to, business works: and step it up a notch. in the location info, and give the item’s strong expansion. Currently, the compa- Latin America has a culture of knowing

Not surprisingly, Rappi aims to become description, done. Rappi Photo: ny works in 20 Brazilian cities, besides how to make things happen,” says him. the largest technology company in the re- Gathering a variety of features and Colombia, Mexico, Argentina, Chile, And things are truly happening: gion. They are pushing the Latin American following users whole journey, from the FERNANDO CHAVARRO, Peru, Uruguay, and Costa Rica – a sum of Besides the $1 billion from funds man- startup ecosystem and e-commerce market moment they start the day, riding a scooter PRODUCT LEAD AT RAPPI almost 55 cities across Latin America. aged by Japan’s SoftBank, Rappi has al- to a whole new level – and they are very from the Mexican startup Grin, to the end Fernando Chavarro is Product Operating in 8 countries, Rappi is the ready raised $200 million from its current well-focused and goal-oriented so as to of it, when they are ready to sit down and lead of Strategic Partnerships first tech unicorn based in Colombia investors DST Global, Delivery Hero, take bigger steps each time. order a pizza; Rappi is solving logistics, at Rappi. "I joined Rappi team and is already considered one of the top Sequoia Capital, Andreessen Horowitz, mobility, access, and many other issues for in the early stage, and along 5 most innovative companies in Latin and Y Combinator. Rappi’s bold journey the user. This is their power and craft. this path, I have been part America. The $1 billion investment of in Latin America All this is made possible thanks to a Multiple Rappi bikers of the operations, Softbank Innovation Fund will support The future ahead Rappi’s purpose was ambitious from the deeply rooted culture innovation. “We parked outside a marketing, commercial an ambitious expansion plan. It’s game “There are no people who understand very beginning. The Colombian on-de- always think about what we are doing to restaurant in Lima, and expansion team.” on for Rappi. Latin Americans better than themselves mand delivery startup was born in 2015 improve people’s lives, and if we have an Peru. About the future, Fernando – and Rappi is a Latin American solution states Rappi’s main goal. Challenges tailor-made for them," says Chavarro. “Undoubtedly, our strategy Many have thought of what happens If the keyword to thrive in Latin as a company is to be the when one tries to tear the status quo America is access, Rappi has it all figured LATAM supper app, and to apart. Some have tried. Only a hand- out, since they are offering full support achieve this, we are develop- ful have become truly disruptive. But solutions – from delivery to mobility and ing all the business lines that none have done so without facing big financial services – for a user craving to are needed to build the larg- challenges. save time. By the end of 2019, the goal est technology ecosystem in When Rappi came up with brand new is to double the footprint, reaching 100 the history of Latin America.” solutions to solve the same old problems, LatAm cities they started facing many challenges. More than becoming the largest tech Although the market momentum seemed company in Latin America, Chavarro perfect – given the mix of consumers says that Rappi wants to lead the journey eager to access these solutions and a taking the region to a whole different fast-paced growth in technology – the level and spread the word out loud to company knew it would have to over- global players. One thing is for sure: they come some hurdles. seem to be on the right path, supported What happens to a society when by the right people. disruptive changes crash into the scene? As the American management con- To Fernando Chavarro, “startups and sultant and author Peter Drucker once technology go at a faster pace than any said, “The best way to predict the future other sector of the economy – while to is to create it”. And this is for the ones change laws and regulations, the process who dare to dream – and more than is way longer and slow.” that, who dare to do. Photo: Rappi Photo:

12 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 13 E-COMMERCE We did not find a customer

for our product, but a brand stopped being cross-border with product for our customer. several products and started to be a The brand that is strong brand within e-commerce,” un- KUNTA ROMERO, USEGIRAFFE’S CPO derscores Romero that bet on a formula involving constant testing in China, reinventing China’s rigorous control of materials and its noise and make the whole process cleaner own manufacturing to scale results and for the consumer, including limitations. For increase satisfaction levels. “We have cross-border example, if a user is making a purchase that created a new kind of service within our is too close to a seasonal date, the brand cross-border, a new brand that we are reinforces lead time communication to re- cultivating and we have noticed that it e-commerce duce potential frustrations that could hurt has created more credibility.” the company’s reputation. Despite all the advances in communica- Turning obstacles into growth There’s nothing innovative when it comes to Chinese tion and relationship, UseGiraffe had to go In 2018, the recoup of Brazilian e-com- further to reach another level of satisfac- merce with a growth of 12%, according to e-stores? Not for UseGiraffe. Find out how the company tion among Brazilian customers. A com- the Webshoppers report, came as a relief to has been making Chinese e-commerce in a Brazilian way plete new product quality control system national and international brands operat- was developed that led to the creation of a ing in the country. After about two years of brand with its own parts production. instability, the market has gained momen- “At first, the idea was to be a tum again and is growing significantly. BY LIVIA PERRETTO team that is winning move by move. logistics and customer service. UseGiraffe cross-border working with various But while other brands decided to just A This was the spirit that made the was not unscathed by these issues, but manufacturers and suppliers and as dip their toes in the Brazilian market, founders of UseGiraffe decide to bet on a knew how to turn these obstacles into a the company grew we noticed that the UseGiraffe adopted the opposite strategy, new business model within a segment competitive advantage. already well-known among Brazilians: “Brazilian consumers are demanding, Online shopping for Chinese products. they want to buy, but it has to be some- China’s buying culture is well-estab- thing of quality, cheap, and fast. This is lished in Brazil. Among the 10 international Brazilian,” explained Frederico Matos, the e-commerce companies that Brazilians responsible from UseGiraffe’s technology bought from the most in 2018, 6 are information department, who underscores Chinese, according to data from the latest the achievement of credibility among Webshoppers report. Giants AliExpress the Brazilian public as one of the biggest and Wish dominate the top two positions, difficulties encountered when entering but even with their entire global structure, the market. Mission complicated, but not these companies face logistical and cultur- impossible. al obstacles on a daily basis. In addition to the team abroad, the While many people might find the brand has a complete team of profession- mission of improving Brazilians’ access to als in Brazil. Its goal is to offer consumers Chinese products impossible, the founders the opportunity to make international of UseGiraffe decided to use the experi- purchases with support and the same ence they already had as consumers to sense of security from domestic suppliers. offer their consumers a new solution. “The core of our company is to solve the “We entered this market because we purchase path, not only sell, but follow understand the Latin American public, we the whole journey,” says Frederico Matos. are from here, we know how to adver- “We did not find a customer for our prod- tise, tailor the product and especially the uct, but a product for our customer,” adds service and payment methods facilitated Kunta Romero. for them,” said Kunta Romero, UseGiraffe’s This team acts directly in customer CPO, during an interview with LABS. service, offering support in Portuguese and Brazilian local time, as well as a website An end-to-end solution and communication that is not simply When it comes to the challenges of translated, but rather designed according cross-border e-commerce in Latin to Brazilian buying behavior. This was America, two issues are unanimous: the solution found by the brand to reduce Photo: Usegiraffe Photo:

14 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 15 The company started in years of crisis, heavy years, and as we kept growing, we knew we were on the right track.

KUNTA ROMERO, USEGIRAFFE’S CPO

diving headfirst into Brazil. Turning chal- market and consumer needs. “We always lenges into opportunities, they exceeded think of growing with quality,” says their expectations in the first year. Kunta Romero. “We took a lot of risks, we didn’t like to wait for it to happen and when we Swimming against the started the company in 2 months we had tide in a blue ocean already sold what we believed we would “A gigantic blue ocean,” this is how sell in 1 year,” says Matos. UseGiraffe’s CPO refers to the poten- But despite exponential growth early tial of the Latin American market and on, the company has invested in a busi- Frederico Matos adds that “this is the ness model poised to become sustain- best market to grow.” able in emerging markets such as Latin In a market apparently dominated by America. “The company started in years big global players, UseGiraffe has proven of crisis, heavy years, and as we kept that Latin America is far from a saturated growing, we knew we were on the right market, but you have to know all the rules track,” said Romero. of the game to win in the region. “We saw The focus was not on sustaining the big players achieving success in Brazil, growth rates at such aggressive lev- always facing big challenges and we knew els, but on keeping up with market we could do something different,” said movements. Thus, to control currency Kunta Romero. Frederico Matos (left) is the instability, UseGiraffe bet on a pricing That’s why the company was born with head of UseGiraffe’s technology model based on reais, not on dollars, and Latin America in its DNA, and contrary to information department, and assumed a risk margin so that in times what many local entrepreneurs imagine, Kunta Romero (right), is the of high value of the US dollar, the value it was precisely the power to adapt to company's co-founder and CPO. for the Brazilian would not be impacted an emerging market that is touted as the we search, we create, we live the content “We always think of growing with significantly. This allowed e-commerce reason for the brand’s success. “It is much quality,” says Romero concerning to keep pace with Brazil’s purchasing easier to grow in Brazil than to enter a the company's steady growth, power and maintain values ​​consistent market like the US where the market is FUN • TECH • FASHION • POP • HOME • S.O.S even in times of crises. According with what the public was willing to pay already very big in e-commerce, so you to its founders, UseGiraffe's at the time, maintaining a healthy sales will be just one more in there and for you formula for success is to make rate, even during the most difficult peri- to stand out, you need something. And if The Shoppers is renewed. We have built a team to nd, engage Chinese cross-border in a ods for the cross-border market in Brazil. you don’t have help and support, the big and entertain your costumer with the right and proper content Brazilian way.Brazilian way. This led to the company gaining players can swallow you,” says Frederico. on e oine. Marketing, performance, ads, events, video and market share month And against the tide of seasonality social media. The whole thing. The complete solution for your by month, achieving a and big trends on the global market, Latam Marketing campaign. We built content tailored for you balanced level of growth UseGiraffe has grown its portfolio by and your audience. which, according to the betting on building a strong private label company’s CPO, was the with products that can be offered year- initial strategy, as too big round and not subject to sudden price a jump could also result changes due to currency fluctuations. in an equally signifi- UseGiraffe has proven that it is possible cant drop in any market to innovate even in segments that seem movement. The company more consolidated. Exploiting the well- has always remained on known Brazilian habit of buying Chinese the sidelines of major products, the brand has built a model swings and has achieved that offers the cost-benefit of internation- steady growth month al products adapted to local consumer by month, balancing the behavior. theshoppers.com

Photo: Rodrigo Grossi

16 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 17 Photo: Shutterstock Photo:

TECHNOLOGY By relearning the habits of users, and solutions created by the company. “In solving daily problems of companies, and Microsoft, we are developing AI tools and offering the right options to increase the technologies, using the resources of the productivity of professionals in the entire cloud Azure, so as to empower people and How Microsoft uses world, Microsoft found itself in a digital increase their abilities. We are working revolution that the corporate world is to guarantee that those innovations and also experiencing through its most recent discoveries in AI are available for everyone,” technology to empower approach. “A digital transformation opens claims Mariana Hatsumura. And the tech- a new potential for organizations, and this nology multinational could not have been does not mean only technological modi- more assertive in choosing this direction people and businesses fications or readjustments, but also that to guide its efforts. “We stopped being a of people. As expectations, knowledge, company that says ‘I know everything’ and and the abilities of each employee in the went on to become a company that says ‘I The $1 trillion global company is definitely one of the most avant-garde organization – from the factory floor or can learn everything.’ This means learning reception, to the executive director’s office from our mistakes,” said her. tech giants. But as an old player in the game, Microsoft actually keeps — and the tools that they use for work In the second quarter of 2019, the on learning everyday are all determining factors of the level of company exceeded the market’s high transformation that any organization can expectations by reaching a revenue of $ reach,” explains Hatsumura. 13.2 billion, an increase of 12% in relation

BY LIVIA PERRETTO echnology that is not tailored for all With a market value that already The grand mission of Microsoft T of us, but rather for each of us,” says exceeds $ 1 trillion and a brand that To translate this mission into something We stopped being a company that says Mariana Hatsumura, productivity director has become an icon of the technology tangible in terms of products, Microsoft of Microsoft Brasil, who explains that the universe, it is not hard to imagine that found in artificial intelligence its primary “I know everything” and went on to become culture of constant reinvention which the future could take them to opting ally. Present in all the brand’s products, each a company that says “I can learn everything.” places clients at the center of the deci- for calmer waters in terms of managing in its own way, it is artificial intelligence sion-making process in an inclusive a consolidated patrimony. But that is that shapes the path of the new features This means learning from our mistakes. manner is one of the reasons why the not sufficient for Microsoft, because MARIANA HATSUMURA company, founded in 1975 by Bill Gates and the American company has decided to PRODUCTIVITY DIRECTOR Paul Allen, never lost the innovative touch swim against the current and out of its OF MICROSOFT BRASIL that characterizes its products. comfort zone.

18 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 19 Microsoft is committed to

empowering each person and each is one of its initiatives that made possible organization to accomplish more. the creation of projects in the most diverse of areas, from the adapting control of MARIANA HATSUMURA to the inclusion of people with disabilities PRODUCTIVITY DIRECTOR and even to the development of InnerEye, OF MICROSOFT BRASIL which uses artificial intelligence so that the same users in different moments with The role of Latin America -ray equipment can learn, constantly the same needs to be taken care of in each With the explosion of the market to forecasts. Responsible for this exponen- improving the reading of images. instance: quick apps with easy navigation for fintechs, startups, and, conse- tial growth was Azure, which became the that can solve real problems on a daily ba- quently, unicorns in Latin America, most lucrative area of the company. “We The power to create corporate sis. Those companies focused on B2B solu- there was never so much need for are committed to certifying that those solutions for users, not just tions and aware of this message will lead corporate tools alongside the exten- AI systems are developed responsibly companies Microsoft Photo: the pack. Microsoft is one of them. “The sion of market space to be explored and used to gain the trust of people. We The digital revolution affected the lives MARIANA HATSUMURA, idea is that technology be an important ally in the region. This opportunity is on believe that AI is a challenging technology of people in all aspects, from day-to-day PRODUCTIVITY DIRECTOR in the delivery of results, flexibility, and the table, and Microsoft is willing to in our time, and we are optimistic regard- aspects, such as the increase of social OF MICROSOFT BRASIL digital integration. Microsoft is committed win the game. ing what AI can offer to people, industry, networks, to the way in which we all work, Mariana Hatsumura is productivi- to empowering each person and each or- “The future of work is not only and society — now and in the future, in including the rise of numerous new areas ty director of Microsoft Brasil and ganization to accomplish more,” highlights a world with more automatization ways that we have already seen and those of activity in a short time. If corporate has been part of the company for Mariana Hatsumura. and robotics, it is a future of new that we have yet to understand,” adds the tools had, in the past, very direct and tra- more than 8 years. “When Satya And to accomplish this mission, each types of businesses, activities, and director of innovation. ditional objectives, the first step to keeping Nadella took the position of CEO of the group’s products became a piece possibilities, something that has the And it does not stop there, according pace with this new moment is to under- in Microsoft, back in 2014, he in the puzzle of solutions for businesses potential of deeply benefitting re- to Hatsumura, close to $ 14 billion are an- stand that success is within reach of those began a process of cultural trans- from different segments. “The artificial gions in Latin America where PMEs nually invested in research for innovation companies capable of grasping that the formation with a new mission: to intelligence integrated into the Office365 and startups have a fundamental projects classified into four categories: (1) user that posts a selfie is also the person empower each person and each package, for example, stimulates produc- role in economic development,” em- bold (independently of its size), (2) opti- that needs to manage a team. organization of the planet to ac- tivity when a PowerPoint suggests layout phasizes Mariana Hatsumura. mistic and inclusive, (3) based on trust, and Whether it is during a stroll with the complish more, which functions options and offers subtitle resources to To exploit all the potential of the (4) executed on scale. Hence, the company family, during a planned trip, or during as a guideline for everything break down language barriers – offering market, Microsoft’s director of pro- keeps itself one step ahead of the competi- the preparation of a decisive presentation that we do,” reveals Hatsumura polished presentations – or when Outlook ductivity in Brazil reveals that the tion when concerning innovation, and this at work, at the end of the day we are all about the transformation process separates the most important messages for company has a support network of that is guiding the next steps of the user to read first, placing those emails local partners. “Microsoft has a base Microsoft. in a priority box. Microsoft Teams already of 80 thousand partners in Latin helps guarantee a flow of communication America, and they are very import- that is more efficient with translation and ant in the challenge of helping our subtitles in real time. Innovations such as clients face the digital transforma- the Microsoft Translator, which includes tion. In Brazil alone, there are ap- 64 languages, can translate in real time and proximately 20 thousand partners,” is available in various platforms,” explains she claims. the director of the company. While Latin America is coming More than just think of the needs of to grips with the pace of its own businesses, to focus on what truly fuels development in the technology everything and any positive outcome of a market, Microsoft is one step ahead business: motivated people. And tech- in coming up with solutions for nology can have a direct influence on businesses of all types. Technology all the tasks involved in the workplace, with an objective – this is the from facilitating simple, day-to-day tasks mission that the technological giant to providing quick analysis that increase has set for itself in the delivery of productivity and results. The work day its products to Latin Americans, has changed, and so should they way we and no doubt they are successfully engage with work on a daily basis. facing the challenge. Photo: Shutterstock Photo:

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beginning of something with much the early 1990s, it was only at the end of potential. Investments in local culture, in that decade that the company arrived in the localization of games, of the content the country with a physical branch and and events is super important – and that local professionals. 2019 marks 20 years is what made us evolve so much since we since the arrival of Bertrand and his team arrived here only to distribute games,” in Brazil, which in those first years was says the executive in an exclusive inter- mostly focused on marketing its brand – view with LABS. back then their big products were based on Rayman and other smaller games, which The beginning of an evolution gave way to Prince of Persia, Splinter Cell, in regional content Assassin’s Creed, and other big franchises. The period of game distribution to which ““It is very important to work in localiza- Bertrand refers to is at the beginning of tion, and I believe that much of our success

Photo: Shutterstock Photo: the 1990s, when the French collaborat- here is due to that. It’s no use to only invest ed with Gradiente to slowly enter the money in the country without understand- Brazilian market. “At that time, we saw ing your public there or without adapting many problems concerning taxes and the the content, which is exactly what we do GAMES value that accrued for the user, which here with our events, Youtube channel, and was very high […] There is still much to other initiatives,” says Chaverot, who also improve, yet the public here is passion- remembers of the dubbing and translation ate about games and benefits from that of games, something that Ubisoft lead in French Ubisoft drops industry, buys and plays a lot,” he says. the country and which gave a lot of visibil- In fact, the sector achieved US$ 1.5 ity to their brand in the market – that was billion in Brazil alone – which made the a step that led to the opening of the studio anchor in Latin America country position itself as the leader in here in Brazil, which closed their opera- the Latin American market and as 13th tions in 2010, after developing projects for globally, according to the 19th Global gaming platforms such as the DS. t has been some time now since the development in the continent, has been Entertainment and Media Outlook by The evolution of that localization is tied Investments in culture and I gaming industry has been consid- the French developer Ubisoft. PricewaterhousCoopers (PwC). to the company’s investment in the content ered as one of the biggest in entertain- Globally known as the creator Within that framework, Ubisoft rep- channels linked to businesses in Latin local content made Latam ment worldwide. With a gradually of games such as Assassin’s Creed, resents a significant player, since it is one America. Today, Ubisoft has a channel one of the most important expanding penetration due to smart- Rainbow Six, and Just Dance, the game of the most important companies in the on YouTube with more than one million phones and other devices that allow developer has numerous branches sector for some time now. Even though it followers, a fixed set of programs, social markets for the game gaming on the go and access to social spread throughout the globe with differ- began its operations in partnerships during networks with millions of users and multi- networks, gaming has become something ent responsibilities. Today, the Brazilian media coverage of global events such as , developer common in the life of many people, branch represents one of the biggest GameXP, and Brazil Game Show. “We look regardless of age. Success in this industry, yields of the company and has a promis- It is very important to work in for more partnerships and a global reach, BY THIAGO ROMARIZ however, largely depends on an under- ing future ahead, according to Bertrand so as to expand the market to its potential standing of the culture and behavior of Chaverot, director of the company. The localization, and i believe that much size. Nowadays we have the structure of the gamers in different countries. One of investment here, according to him, has to of our success here is due to that. the Internet and the technology to accom- the companies that managed to imple- be planned carefully. plish this,” says Bertrand. ment this understanding, besides having “Although we have been here for BERTRAND CHAVEROT, DIRECTOR OF UBISOFT accompanied the various stages of some time now, I think this is still the

22 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 23 We look for more partnerships and a global reach, so as to expand the market to its potential size. Nowadays we have the structure of the Internet and the technology to accomplish this.

BERTRAND CHAVEROT, DIRECTOR OF UBISOFT Photo: Ubisoft Photo:

BERTRAND CHAVEROT, The strong presence of the company in DIRECTOR OF UBISOFT Events and When he refers to a region with this the eSports local market yields its fruit not French-born Brazilian Bertrand much potential, Chaverot uses expressive only in the community, with the content Chaverot has been Managing numbers as a means to persuade, mainly created by the Ubisoft platforms in Brazil, Director of Ubisoft in Latin those numbers that are linked to Ubisoft’s but also within their own games. America for 11 years. With a current large project: Rainbow Six: Siege. Rainbow Six has a map and characters multi-cultural history in the A first person shooter that has Brazil that are Brazilian for the past three years, Videogames and Digital industry, as its biggest audience worldwide with and Just Dance includes Latino artists, such Chaverot believes in the power of tournaments broadcast online. “We are as Anitta, Maluma, Ivete Sangalo, MC Fioti, localization. For the executive, the among the biggest in terms of the number J Balvin, among others. In 2019, the French Brazilian branch represents one of of players and we have the biggest audi- developers announced the presence of the biggest yields of the company ence. Rainbow Six and eSports in general Lexa, a Brazilian singer that would include and has a promising future ahead. are nowadays responsible for almost a the song “Only after Carnaval” (“Só Depois third of our investment in Brazil,” ex- do Carnaval“) in the playlists of the game plains the director. the world over, sharing spaces with names Beyond the R6, as the game is known in like Cardi B and Ariana Grande. the community, Ubisoft has in Brazil its For Bertrand, this is just one more ex- biggest community in Just Dance, a dance ample of how the investment in the region game that is celebrating its 10 year anniver- brings returns and how the world already sary in 2019 and has a Brazilian two-time understands the value of Latin America as champion, Dhiego San, and a strong com- a place for business. “There is a potential petitive scene in the country, with players here to transform it into one of the three always reaching the finals in the global largest markets in the world of gaming.” stages of championships.

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Carrefour is betting competencies: that of data, content and Click & Retire. Common in several retail services (Carrefour wants to really know chains in the United States, this function- its customers and consider new products ality arrived in Brazil not too long ago and on partnerships to and services based on this knowledge); already has in Carrefour one of its most that of the last mile, which is the delivery efficient followers. of the product (in partnership with the According to the company, more than grow even more startup Rappi); that of digital payments 100 stores should incorporate the service (a new race of retailers to the goal of the by the end of 2019. This service will be a super app and a bigger presence in the perfect fit in the multi-channel strategy Traditional and old-fashioned? Think again. Carrefour daily life of clients). of the chain. Also this year, Carrefour in- “The idea of eBusiness is to transform tends to incorporate an option “Withdraw arrived in Brazil in 1975 and is experiencing a full Carrefour into a reference in omni-chan- shopping cart” in 13 of its units and in expansion, backed by technology and new solutions nels and a leader in grocery e-commerce,” more than 2,000 sellers (those sellers that said the group in a statement sent to LABS. participate in the group’s marketplace). Carrefour also wants to incorporate 1.9 The three approaches of the “new million Stock Keeping Units (SKUs) in its Carrefour” that got the attention of electronic marketplace. The term SKU re- consumers fers to the stock code that each item has, Taking a look at Carrefour’s initiatives in something that is crucial in the control of BY THIAGO ROMARIZ etail was quite possibly the segment as Carrefour Express) and convenience 2019, alongside the significant investment storage in this new scale of multi-chan- R of the economy that most suffered stores, to superstores (large stores that are in technology, one can notice the focus nels with which the group is working. from advances in technology in the last a point of reference for Brazilians when on increasing the channels through which The third and last investment approach decades. Betting on the weight of e-com- they think of Carrefour). There are more their clients can make purchases. for this year is linked to the most varied merce as a natural result of increased than 100 hundred stores in this last model In this sense, the three approaches capti- modes of shopping that the brand offers: access to the Internet and intelligent in the country. vated the attention of Brazilian consumers a unified profile for each client, called devices, new global players emerged and In 2017, the company was considered in the last few months. project One Carrefour. took the place of many centennial enter- one of the 20 biggest enterprises listed in The first of these approaches is the According to the company, it exists with prises, which had reigned absolute during the Brazilian Stock Exchange (B3). The partnership with the delivery app Rappi. the “objective of having a single vision the time-tested model of physical sales. following year, Carrefour processed BRL Created in Colombia, the service–which of the group’s clients, independently of Like any jungle that is considered as 56.3 billion. It was literally the company was the first player in our Latin America’s the format of interactions, in addition to such, some of the most experienced that generated the most revenue in 2018, Trailblazers series in LABS–had in Brazil giving access to all the services by means players in the segment were able to followed by the Group Pão de Açucar (BRL its biggest pool of clients and announced of whichever customer service platform.” correctly interpret this phenomenon in 53.6 billion), Via Varejo (BRL 30.5 billion), its partnership with the French group at Today there are more than 13 million sub- time, adapting to survive–even in a region, and Walmart (BRL 23 billion), accord- the beginning of 2019. scriptions in the My Carrefour platform. such as Latin America, with highs and ing to a ranking released this Thursday In just the first trimester of the year, lows that would be a challenge to any (22) by the Brazilian Retail Executives Carrefour’s sales via e-commerce businessperson. Instituto (Ibevar) in partnership with the (through its website or apps) grew 84%. The idea of eBusiness is to transform One of those survivors is the Carrefour Administration Instituto Foundation (FIA). Also this year, a new 24 hour frozen group. The French chain arrived in Brazil Their good results are due to a series drinks service was announced, taking into Carrefour into a reference in omni-channels in 1975 and is nowadays experiencing a of changes based on the shifts in behavior account the type of consumption specific and a leader in grocery e-commerce. full expansion. It has been investing in of Brazilian consumers, shifts that estab- to Brazilian customers. technology and flexible services like no lished a new business front for the group, The second approach of 2019, an ap- CARREFOUR GROUP other competitor, implementing both its Carrefour eBusiness Brazil. proach that can only be found in a few own solutions and those offered with the This year–as in 2018–Carrefour will cities in the country, were the markets help of strategic partnerships. invest close to BRL 1.9 billion in Brazil, There are more than 650 points of sale primarily focusing on the technological in Brazil, all of them of the most diverse evolution of their business. The new types: from small supermarkets (such plans involve the development of three

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A global leader and Carina, Carrefour’s AI The results of these investments are reference in food The form of localizing and personalizing already manifesting. From April to June of Tailored content from retail, Carrefour is a one’s own service, alongside the initiatives this year, Carrefour registered liquid profits pioneer in countries discussed above, went live with Carina, of BRL 419 million, 11% more than those of Latin America to the world. such as Brazil in 1975 the artificial intelligence that Carrefour the same period last year. and China in 1995, launched at the beginning of the last Gross sales added BRL 15.3 billion, an in- LABS is a content platform about and operates more trimester, following the trend of virtual as- crease of 12.9% above the second trimester Latin America, focused on economics, than 12,000 stores sistants that help the customer understand of 2018. Notwithstanding the operations of business, technology and society. By and e-commerce what is the best way of interacting with the Atacadão (a sales brand of the chain that providing deep and accurate content sites in more than service. deals with wholesale) having been respon- about the economic and technological 30 countries. Differently from telecommunications sible for the biggest portion of that growth, landscape of Latin America, both companies or banks, Carrefour gambled there was an increase of 9% in the sales in Portuguese and English, we help on a more mature visual for its AI. Carina that took place in “the store itself.” This entrepreneurs and the general public is 42 years old. She provides customer ser- means that, in general, all of Carrefour’s understand the region's particularities. vice to clients via chatbot and Whatsapp, models are growing and this is due also to which is the favorite app of Brazilians the investments in the three approaches to exchange messages–a responsiveness cited at the beginning of this article. to the characteristics of each country or With good results also in the first tri- region where it offers its services is funda- mester, 2019 promises to be a new year of mental to the global success of the group. record revenues for the group in Brazil.

LABS.EBANX.COM

28 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 29 In the photo, Gabriela talks to tribal chief Tashka yawanawa.

Photos: Gabriela Grosskopf Antunes Gabriela Grosskopf Photos: At one point in the trip, I remembered a phrase attributed Gabriela on the OPINION to the North American journalist first day in the

Amazon region, Truman Capote that says something Antunes Gabriela Grosskopf Photos: soon after seeing the size of the along these lines: “that when God forest devastation The Amazon: from On August 24th, I fire smoke on health are immediate and with the fires. gives us a virtue, he also gives us arrived at Rio Branco, cumulative. That is, the consequences In the second a lash to inflict self-harm.” Acre, where part of were toxic and irreversible for those picture, the journal- Borges’ Paradise to the Brazilian Amazon who had been exposed to so much ist's soot-soaked is on fire. I was smoke, a tragedy for human health and sneakers from the following a North American television the environment. fire. Dante’s Inferno team, in the condition of journalist. We During the week that we travelled had barely landed, when the plane’s by land and air, flying in small planes cabin filled with smoke. Asking the and relocating to the outskirts of Acre LABS columnist and editor of Argentinian journal Clarín, pilot what he saw in the radar, he re- and Rondônia. We talked with ev- sponded that it was the smoke coming eryone that wanted to speak: chiefs, tells what she saw in the forest, during her journey with from Bolivia, whose border was 200 indigenous communities, government an American TV crew km away from Rio Branco. But there representatives, river folk, scientists, were still urban and forest fires on all firemen, representatives of NGOs, sides. On that day, flames surrounded small landowners, fire victims, and the perimeter of the airport, and the countryfolk. Our aim was to give them BY GABRIELA he Argentine writer Jorge indigenous communities, whose culture, city seemed like a large smoker. In ten the most autonomy possible, so that GROSSKOPF Luis Borges used to say that language, and customs still lack the minutes, we all smelled of barbecue. It they could share their experiences and ANTUNES “paradise was a type of appropriate research; and like water, was “Dantesque.” Already in the hotel, a perspectives, strengthening the jour- T library.” A voracious reader, the lifeblood that unfortunately may well-known scientist of the region came nalistic independence of our content. Borges imagined himself surrounded by become a future commodity. to visit us. I realized, while we spoke, I saw indigenous people fighting for books. That was his “Eden.” Without a We are talking of undiscovered insects, that I had made an unfortunate analogy their reserves, animals dispossessed woodsman’s vocation, Borges was not tribes in isolation, plants that could with other tragedies of large propor- by the fire, river folk trying to row referring to the living library of the feed and cure evils and diseases that tions. To my surprise, he confirmed that against rivers filled with fallen trees, Amazon rainforest. Borges imagined affect the human population. It is a 3D it was not that different, considering clearings in the forest the size of cities, words, phrases, and poems. library, alive, in transformation, whose the appropriate scale of the event. More fire, smoke, but also the strength of In the biological paradise of the impact on life is so pervasive that human specifically and concerning human agro-businesses, with families depen- Amazon, we may dream with 10% to conscience might not yet be ready to health, he agreed with me: the effects of dent on that activity. 15% of the biodiversity present in the process. And that is where our limit of world today, as well as 40% of the human understanding may spell our rainforests in the planet, hundreds of death sentence.

30 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 31 On The Spotlight

Brazil - and Latin America - One of 2019’s best The controversial story of have much to offer when it documentaries is from infamous Brazilian singer comes to culture. Check this Brazil, according to Wilson Simonal special selection of tips to The New York Times

Photos: Gabriela Grosskopf Antunes Gabriela Grosskopf Photos: One of the few black stains in the take a deep dive into some Netflix doc Democracia em Vertigem ex- Brazilian Popular Music (MPB) is the of the best latest Brazilian plains the recent - and polemic - changes story of Wilson Simonal. Charismatic, in the Brazilian government from a left with a strong personality–and a splash We can no longer flee from the pieces. Go beyond business to a right-wing-party. The piece is among of arrogance – the singer captivated fans issues that deal with economic sus- the 8 selected by The New York Times as and made enemies during his career. tainability; that is, how to enjoy this and enjoy! the best movies of 2019 so far. “Simonal”, the film, premiered in Brazilian treasure by keeping it alive. With the cinemas in August. proximity of the flames, we no longer The Edge of Democracy have the luxury of taking our time. 2019, Neflix Simonal We need to decide whether we will 2018, Pontos de Fuga Firefighters trying to At one point in the trip, I remem- drink from that knowledge with the prevent one of the bered a phrase attributed to the rainforest still standing, with infinite fires from spreading. North American journalist Truman possibilities, with the support of sci- Capote that says something along ence, technology, and sustainability, these lines: “that when God gives us a or whether we will raze the rainforest virtue, he also gives us a lash to inflict to the ground, betting on an agro-ex- self-harm.” Our biggest vocation, the porting and mineral extraction model. treasure that fell on good part of our The difference between those two national territory, has been trans- models, a controversial topic, prag- formed, in part, into our misfortune. matically consists in a single one: if It was a treasure chest, heavy, desired we opt to maintain the rainforest, we by so many pirates, with millions of can rethink its purpose every time the animal and plant species, indigenous discussion is launched. On the other communities, and, perhaps, it was far hand, if we destroy the forest, we may too heavy for the country to carry. never be able to rethink that model. ‘Sintonia’: An important part of history, ‘Most Beautiful Thing: Bossa The Amazon rainforest is linked to It might be prudent, and count- our navel, where our umbilical cord is er-productive, to point fingers and The Brazilian Favela by Laurentino Gomes Nova and women’s rights in found, extension of flesh that shapes offer simple solutions for such a as it really is Author of best-sellers like 1808, the 50s our origins. We came from that house complex situation. I returned from Laurentino Gomes launched in August Created by Kondzilla, famous funk video Celebrating the emerging Bossa Nova that has a green rug, padding our identi- the Amazon with more questions than the first book of his new trilogy. producer responsible for greatest hits, culture, and depicting the country during ty. In my opinion, it is less productive to answers. Dense and humid doubts “Everything we once were, what we are, Sintonia brings a real vision of how young a hard time for women’s rights, Most know whether the current government as the closed foliage of the forest. and what we will be, links to our African people deal with life in Brazil’s suburban Beautiful Thing shows the shift of Maria is Nero playing the harp and allowing The biggest one? As a paradise, as roots, and to the way we relate to those regions. Among crime and drugs, religion Luiza, a common housewife, into Malu, Rome to burn, or whether our current Borges once dreamt, a library filled roots”. and music; Sintonia brings a humanized a strong businesswoman starting her situation is the cumulative result of with knowledge, can be transformed vision of the favelas, putting the suburb own Bossa Nova club in Rio de Janeiro. small, medium, and large political, eco- into a hell not unlike the one narrat- Escravidão Volume 1 on the spotlight. Soundtrack is one of the main highlights. nomic, and environmental tragedies. ed by the Italian Dante Alighieri? Laurentino Gomes 2019, Globo Livros Most Beautiful Thing Sintonia 2019, Netflix 2019, Netflix

32 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 33 INFOGRAPHIC Opportunities with the Venture capital has exploded in Latin America— revealing fertile ground for innovation. Mobile Explosion of Venture services, software and SaaS are underserved Capital Investment in markets ready to disrupt. Recent data highlights the impressive growth in venture capital Latin America investment in Latin America, the key drivers of this growth and the opportunities for international companies that wish to take advantage of this momentum.

Room to Grow Venture capital (VC) investment in Latin Annual growth AND GROWTH IS from 5X America has gone up by 5 times since 2016 46% since 2011 ACCELERATING 73% 2017-2018 % of total Global VC Investment, 2018 HOWEVER, LATAM STILL LAGGING FAR BEHIND Latin America 0.4% OTHER GLOBAL REGIONS AT A MERE: of total global Europe 9% 0.4% VC investment Asia 37% 0% 5% 10% 15% 20% 25% 30% 35%

Growth Factors The Top 5 Areas for VC Investment in LAC

Despite the investment lag, market conditions in Latin America suggest that more digital and software-based solutions are needed.

An Expanding Mobile/ Surging Software and SaaS Markets Online Market Projected SaaS market growth, 2018-2022 1 #1 #2 #3 #4 #5 Logistics/ Real estate 445mn 517mn Fintech Transportation SaaS Unique mobile subscribers in Latin distribution tech America from 2018 to 2025, a $927M $504M $141M $81M $81M 2.2% CAGR 25% 16% 10% LatAm Global average of all new global mobile 4% Drivers subscribers from now until 2025 And the LatAm SaaS investment market is growing faster than it is Of global VC will come from Latin America. investment in Latin America went to SaaS industries in 2018, The growth of Growth in internet 15% showing severe e-commerce and mobile users is Growth of internet penetration underfunding (~20% annually) has fueling demand for in LatAm by 2025. increased the need for SAAS solutions for innovative logistics, both B2C and B2B fintech and use cases transportation Outlining Opportunities solutions

While VC funding in Latin America is growing, the numbers show that the supply is not meeting local demand. Latin American consumers want to transact and consume over digital channels and need increasingly diverse tech solutions to do so. As innovation heats up in the region, now is the ideal time for digital international merchants to offer innovative solutions not currently being offered by local competitors.

34 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS 35 1 LatAm SaaS CAGR is through 2023 • : AMI / EBANX LABS.EBANX.COM

36 LABS COLLECTIONS LATIN AMERICA TRAILBLAZERS