Largest Media Group in LATAM, Grupo Globo Becomes Quinto Andar Stakeholder

December 7, 2022
Share this Post: 

The Brazilian media giant Globo has acquired a stake in real estate marketplace company Quinto Andar.

Specifics of the agreement were not disclosed but according to reports from Brazil, Globo will pay for its equity in the PropTech unicorn in the form of media exposure.

Founded in Sao Paulo in 2012, Quinto Andar acts as an end-to-end brokerage for home seekers and monetises from both renters and landlords. Over the last 12 months, the company has been expanding its presence throughout Latin America with the launch of its model in Mexico (via Benvi) and the acquisition of Navent's real estate portal assets.

The company was valued at $5.1 billion when it last raised money from investors in the summer of 2021.

Now the market disruptor will be able to count on regular media exposure via the assets owned by the largest media group in Latin America. The deal is not the first time that Globo has worked with Quinto Andar with the PropTech having been a sponsor of the broadcaster's popular reality TV series Big Brother in 2021.

Globo was previously a stakeholder in Quinto Andar rival Zap Imoveis before the Brazilian portal merged with fellow portal VivaReal in 2017.

December 7, 2022
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Aggregators Article Hero Imaghe
What Are Real Estate Aggregators and Are They About to Disappear?

Looking back at the talking points from Property Portal Watch 2010 it seems that classifieds aggregators caused a stir in...

Read More
Houseful Rebrand
Houseful (Zoopla) Launches "Movemnt" Transaction Infrastructure for Property Professionals

Houseful has launched "Movemnt", a free-to-use national home transaction infrastructure for all estate agents, conveyancers, mortgage lenders, and brokers. Movemnt joins...

Read More
Untitled Design 15 1 Releases Next Stage of Its Buyer Agency Advertising Campaign, the number-two portal in the US and part of the three-way battle for market leadership in the so-called "portal...

Read More
Untitled Design 17
REA Group Acquires Remaining Stake in Prospecting Tool Realtair

REA Group has announced that it has bought the remaining shares of Australian proptech company Realtair. Previously, REA Group held...

Read More

Editor's Pick