Latin America Roundup: Uber acquires Cornershop, SoftBank invests in Buser and Olist

Sophia Wood Contributor Sophia Wood is a principal at Magma Partners, a Latin America-focused seed-stage VC firm with offices in Latin America, Asia and the U.S. Sophia is also the co-founder of LatAm List, an English-language Latin American tech news source. More posts by this contributor Latin America Roundup: SoftBank bets on Brazilian unicorns and […]

Uber to acquire grocery delivery startup Cornershop

Uber will acquire Cornershop, a grocery delivery startup that began life serving the Latin American market and recently shifted to offer service in Toronto, its first North American city. Uber announced on Friday that it expects its acquisition of a majority ownership stake in Cornershop in early 2020, once it receives all the necessary regulatory […]

From seed to Series A: Scaling a startup in Latin America today

Nathan Lustig Contributor Nathan Lustig is an entrepreneur and managing partner at Magma Partners, a seed-stage investment fund in Santiago, Chile. More posts by this contributor Latin America is the next stage in the race for dominance in the ride-hailing market Latin America’s Movile is quietly building a mobile empire It’s not easy to raise […]

Walmart to acquire Mexico & Chile-focused grocery delivery service Cornershop for $225M

Walmart is ramping up its grocery delivery business on the international stage with today’s announcement that it has acquired the crowdsourced, on-demand delivery marketplace Cornershop for $225 million. The rapidly growing service offers on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile, which will continue following the deal’s close, Walmart says. […]

Latin America’s Groupon Mafia

Nathan Lustig is an entrepreneur and managing partner at Magma Partners, a seed-stage investment fund in Santiago, Chile. More posts by this contributor: The founders of PayPal and its employees have produced many highly successful companies over the years. In fact, PayPal’s founding team often is referred to as the “PayPal Mafia” because they’ve had […]