While the press release didn’t disclose the amount Intel invested, it points out that this capital injection will help the startup increase the number of brands it works with. At the moment, its virtual mall includes a dozen brands, and ELike hopes to bring that number to 50 over the next 12 months.
According to the company, 70,000 Brazilian users have already downloaded MeuShopping’s Facebook app, and it now plans to use Intel Capital’s investment to boost these metrics.
E-commerce is a fast-growing segment in Brazil, and is increasingly attracting investors. As we reported, Redpoint e.Ventures has closed a $130 million fund that will mostly focus on Brazilian consumer startups.
Image credit: Denis Dervisevic