Ep 37 Fabricio Bloisi, Movile Has a Plan To Make Life better For 1 Billion People

Movile is a global leader in mobile marketplaces with a dream to make life better for 1 billion people through marketplaces on their mobile devices. Movile is a remarkable story of innovation from Latin America, driven by people who are willing to take risks to learn and grow quickly.

I sat down with the CEO and founder of Movile, Fabricio Bloisi, to talk about why he started Movile and how he and his team grew it to the largest mobile company in Brazil and Latin America.

Movile focused on innovating and exploring advanced technologies

In its early stage, Movile focused on text messages (SMS) and then enabled ringtone commerce in Brazil, as well as the development of the country’s first Wireless Application Protocol (WAP) search portal. In 2007, Bloisi focused on expansion. In 2008, and Movile built itself into the largest company in the Latin American mobile commerce industry through new products and mergers and acquisitions, establishing a presence in over ten countries with offices in Brazil, Argentina, Peru, Colombia, and Mexico.

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Startup Valuation Methods

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I was featured in Emma McGowan’s article on Startups.co called 10 real world startup valuation methods. 10 investors shared ways that they value businesses that they invest in. I think it’s an interesting article, as it shows that there is huge variety in how different investors will look at a business. None are right or wrong, they are all specific theses that individual investors have found to be useful for them. It’s worth checking out.

My contribution to the article is at the end and is borrowed from advice Techstars mentors gave to Devin Baptiste, CEO of GroupRaise, a Magma Partners portfolio company that helps groups book events in restaurants and allows restaurants to compete for the group’s business by donating a percentage of the bill to the charity of the group’s choice. From the article: Continue reading…

New York Times: House Hunting in Chile with Andes Property

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Lisa Prevost wrote an article breaking down the Chilean real estate market. My team and I have helped hundreds of foreigners buy and rent apartments in Chile since 2013 when we started Andes Property were quoted extensively in this report. Our attorney Jose Tomas Marambio, a Santiago real estate and business specialist is also quoted. Overall, Santiago and Chile in general are still interesting places to invest. You can still find properties that generate 8-10% cash on cash returns and as commodities prices return, there’s still room for the Chilean Peso to strengthen, further increasing gains as you diversify out of dollars. From the article:

Santiago saw an increase in housing prices between 2010 and 2015, but the pace has slowed since, said Nathan Lustig, an entrepreneur and a principal at Andes Property, a company that provides furnished rentals in Santiago, primarily to foreigners.

A value-added tax on the sale of new properties went into effect in 2016, and “prices for new construction went way up, as everybody tried to buy before the new tax came in,” Mr. Lustig said. “And they’ve kind of stayed that way.”

The value-added tax rate is 19 percent, but the final rate is usually lower, because it is applied to the sale price after the land value is deducted, said José Tomás Marambio Yaes, a real estate lawyer in Santiago.

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Introducing Magma Fund II: $15M to Support Entrepreneurs in Latin America

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I’m excited to finally be able to announce our second fund, Magma II, which will continue to support the growth of U.S. incorporated startups with technology and sales teams based in Latin America, along with Fintech, InsuranceTech and Blockchain startups in Latin America. Just like Magma I, we’re still 100% privately funded.

Since we launched as Chile’s first fully private VC firm in 2014, and subsequently expanded across the region and into the United States, we’ve invested US$2.5m of our own money into 32 pre-seed and seed-stage companies with founders from ten countries. These startups now employ 300+ people from 15+ countries and have annual sales of US$15M+.

We’re excited to continue to build on Magma I by investing into 60 pre-seed and seed stage companies over the next three years into two niches: Continue reading…