Magalu Acquires Insight Partners-Backed KaBuM! for up to ~USD741m

Source: Startupi

Brazil-based e-commerce chain Magalu acquired KaBum!, a Brazil-based technology and e-commerce platform backed by Insight Partners, for up to BRL3.8b (~USD741m). As part of the agreement, Magalu invested BRL1b (~USD195m ), which will be followed by the transfer of additional shares conditional on the achievement of established goals. Read more