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
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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

Alto Announces Integration with Bridge AI for Zoopla Customers

Alto, part of the recently-renamed Houseful (formerly Zoopla Property Group) has announced a new integration with Bridge AI. Bridge AI...

Read More
Yandex Bleak Houses
Rumoured Sale of Russian Giant Yandex to Consortium That Owns Rival Avito

Forbes is reporting that Russian marketplace giant Yandex is in talks for a buyout by a Russian-led consortium of investors....

Read More
Shutterstock 750308431
Swiss Marketplace Group Announces Move Fribourg

Swiss Marketplace Group (SMG) has announced that the company is gearing up to move its regional office from the small...

Read More
Offr Founders 1
Irish PropTech Offer Raises €2.1 Million and Looks to the U.S. Market

The Irish PropTech company Offr has raised €2.1 million in an oversubscribed funding round co-led by the investment arm of...

Read More

Editor's Pick